Stay 
Trading Conditions
Products
Tools
Last week, the formation of an upward medium-term model continued, which allowed the pair to reach the monthly short-term KZ of January at 156.50-155.88. The appearance of the proposal indicates the presence of large limit orders within the specified zone.
Medium-term plan.
Major buyers dictated the trading in the previous week. On Friday, the next part of the upward momentum was achieved. The weekly short-term test at 156.12-155.74, located within the monthly KZ of January, led to the formation of a proposal. This indicates the need for a complete fixation of purchases and waiting for the appearance of a pattern for sale. While the pattern is not formed, this makes it difficult to make trading decisions. Purchases are no longer profitable, and there are no suitable conditions for sales. This indicates the need to be out of the market for the current instrument in the medium term.
If the pair holds above the opening of the month, the upward movement will continue, which will allow you to again look for purchases when the appropriate pattern starts to form. In this situation, the highest probability is the weakening of the pound and yen relative to the dollar having a flat structure that will allow us to work out the already formed range.
Intraday plan.
The main support for the reduction of the pair is the NKZ 1/2 at 154.68-154.49. While the pair is trading above this zone, the upward movement remains an impulse. The test of NKZ 1/2 will determine the further prospects of the instrument. If the US session closes below 154.49, growth can be considered complete and seek out favorable prices for the sale of the instrument. If the pair holds above the level of 154.68, it will be necessary to find a pattern for the purchase with the first goal of completing the maximum in the previous week.
The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.
The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.
The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
