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The upward medium-term movement continues the bullish momentum, which allows the retention of purchases and the opening of new positions in the same direction.
Medium-term plan.
The downward movement last week allowed to get favorable prices for the purchase of the instrument, as the bullish trend was not broken. The first goal is the maximum of the current month. The main medium-term goal can be considered the monthly short-term fault of July (1.3345-1.3294). It is important to note that within this zone, there is a weekly fault of 1.3326-1.3293. The coincidence of these zones will allow in the future to close most of the purchases when they reach the price.
To form a reversal model, a breakdown and fixing of the price below the last week's low will be required. This will open the way for the fall to the weekly short-term of 1.2789-1.2756, where the fate of the whole upward momentum will be determined.
Intraday plan.
At the end of last week, the pair reached the NCP 1/2 1.2957-1.2941, which allowed to observe the increase in demand. Holding the price above the zone indicates the continuation of medium-term growth, so intraday models should also be terminated taking this into account. The average daily growth framework, before the start of the European session, is at the level of 1.3081. The main goal of the upward movement is a monthly maximum of 1.3125. Violation of the upward movement will occur if the pair can consolidate below the level of 1.2941 in today's US session.
Daytime short-term fault is the daytime control zone. The zone formed by important data from the future market, which change several times a year.
Weekly short-term fault is the weekly control zone. The zone formed by important future market marks, which change several times a year.
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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