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The closure of last week's trade took place outside the middle range of the movement, which indicates a 90% probability of a return within its limits. This makes it possible to search for a favorable price for selling the instrument. The "false breakout" pattern of Friday's high will be an excellent opportunity to open a short position.
An upward movement appears like a medium-term impulse, so sales should have a consolidation point. No need to rely on a large profit in the direction of strengthening the Canadian dollar.
An alternative model will be developed if the test of the weekly control zone 1.3433-1.3415 leads to a strong increase in supply. The absorption of Friday's growth will be the first signal for the resumption of a downward impulse, which will provide an opportunity to look for prices to open a medium-term short position. While the probability of the implementation of this model is 30%, so it is auxiliary.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
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