The current phase is a mid-term flat, which indicates the need to use weekly extremes for locking in deals and finding patterns to buy or sell from these levels. Today's Asian movement made it possible for the NKZ 1/2 0.7139-0.7133 to be overcome. The closure of the US session will determine the next priority. For growth to the previous week's high, it will be necessary to close trades above the level of 0.7139. This will make it possible for you to look for purchases tomorrow.
It is important to note that the downward movement on Thursday was a strong impulse. This made it possible to implement a downward model and test the weekly CP 0.7081-0.7069. Today there has been a change in margin requirements, so it is necessary to rebuild control zones that were not tested last week.
The fall resumption model will be developed if the closure of today's US session happens below the NKZ 1/2. This will open the way for the decline, the first goal of which will be the previous week's low. This model remained a priority at the end of last week, but today during Asian trading we can observe an increase in demand, which makes minor adjustments to the search for a pattern for selling.
Day short - daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.The material has been provided by InstaForex Company - www.instaforex.com