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Work in the downward direction remains a priority, despite the fact that the movement of the pair is still bearish. The consolidation below WCZ 1.4268-1.4240 yesterday has allowed traders to hold the sales opened at the beginning of the week. More favorable prices is needed, in order to repeat the sales. The nearest resistance is in the WCZ 1/2 1.4333-1.4319.
The next target of the decline may be the weekly short-term target of 1.3962-1.3934, formed from the current levels.
However, if trading today closes above the WCZ 1/2, an alternative growth model will develop, which will indicate the continuation of the formation of the medium-term accumulation zone, where the target of growth is the upper limit of this month's high.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The area formed by the important marks of the futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area that reflects the average volatility over the past year.
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