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The downward movement of the current week continued the momentum of the previous one. The main purpose of the fall can be considered the range of the average weekly course. It is located near the June low, which makes these levels decisive in the medium term. For those who keep sales from the current or last week, it is necessary to transfer them to breakeven, as the test of weekly CZ 1.1188-1.1172 can lead to a strong increase in demand.
Today, the pair is trading within a weekly control zone, which obliges us to consider the "false breakout" pattern of yesterday's low when entering purchases.
An alternative growth model will be formed if yesterday's low is updated, followed by strong growth with absorption. This will make it possible for you to buy the instrument from current levels and hold it to the zone of the average weekly move at the top. This model has a 50% probability, which makes it profitable to trade.
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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