Yesterday's growth led to the exit beyond the monthly short circuit of February. This makes it possible to look for favorable prices for selling the instrument, since the closure above the middle course zone in 90% of cases leads to a return movement. It is necessary to understand that the upward movement is still a medium-term impulse. At the beginning of the next month, growth may continue, however, according to data, it is unprofitable to buy from the current marks, so a decrease is required to obtain favorable prices.
There is no test of any of the important support zones on the lower timeframe, therefore, it is premature to speak about the formation of a correction or reversal pattern. The first support for today is NKZ 1/4 1.3253-1.3244.
The test of the above support zone will be decisive for further movement. Closing today's US session below the zone will allow you to make sales tomorrow. The next target of the reduction will be the NKZ 1/2 1.3157-1.3138, where the medium-term priority will already be determined. To continue the upward impulse, the price will need to be kept above the NKZ 1/2 during US trading.
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