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Today, the pair is trading within the WCZ 1/2 1.1911-1.1901. Opening the European session and closing the US session below this zone will allow us to consider selling up to the weekly control zone of 1.1811-1.1791 until the second half of the week.
It is important to take note that yesterday, a false breakout pattern formed on the monthly high. If the fall develops, the downward movement may become the main one in the first half of September.
To resume the upward movement, you will need to close today's trading above the WCZ 1/2. This will open the way for updating the monthly high. Working in an upward direction is still a priority as long as the daily trade closes above the 1.1901 level.
DCZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
WCZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
MCZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
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