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The uptrend can persist as long as the pair is trading above the weekly control zone 1/2, formed from the local weekly and monthly high. The immediate growth target is the weekly control zone 1/2 at 0.6278-0.6269. If the price reaches this zone, it can be possible to close the majority of buy deals, and place a stop-loss order for the rest of buys.
The upward movement is a mid-term impulse. The probability of updating the monthly high is above 75%.
An alternative scenario can develop, if the pair closes below the weekly control zone 1/2 at 0.6156-0.6147. In this case, the uptrend will be completed and the formation of a bearish impulse will begin. The weekly control zone at 0.6072-0.6054 is the first target.
Daily CZ is a daily control zone. An area formed by important data from the futures market that changes several times a year.
Weekly CZ is a weekly control zone. An area formed by the important marks of the futures market that change several times a year.
Monthly CZ is a monthly control zone. An area that reflects the average volatility over the past year.
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