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The upward movement last week continued the medium-term impulse model. The pair reached the weekly short-term fault of 1.4281-1.4253, which allowed to slow down the growth. Fastening above the specified zone will allow the impulse to continue.
Medium-term plan.
At the end of last week, it was necessary to partially fix purchases. The remaining part of the long position can be transferred to a breakeven point, since the next growth target will be the monthly short-term fault of April 1.4483-1.4430. This will be possible if one of the nearest American sessions is fixed above the level of 1.4483. The upward movement is a priority, therefore any decline should be considered as an opportunity to find favorable prices for the purchase of the instrument.
The alternative option now has a low probability, since the reaction to a weekly short-term fault is practically not noticeable. To consider sales, you will have to wait for the fall with the absorption of the entire Friday movement.
Intraday plan.
The upward movement is a medium-term momentum, and therefore within the day it is necessary to focus on updating the daily and weekly highs. For new purchases, more favorable prices are required, which can be obtained by testing one of the younger control zones. The first support is the NCP 1/4 1.4234-1.4217. The determining support is the NCP 1/2 1.4152-1.4138. While the pair is trading above this zone, the upward movement will remain an impulse, which will allow it to hold already open purchases and make new ones.
The daily short-term fault is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.
The weekly short-term fault is the weekly control zone. The zone formed by important futures market marks, which change several times a year.
The monthly short-term fault is the monthly control zone. The zone, which is a reflection of the average volatility over the past year.
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