Yesterday's NKZ 1/2 test 0.6832-0.6825 caused the fall to stop. This indicates the presence of large limit buy orders. Keeping prices at these levels may lead to a resumption of the upward movement, the goal of which will again be the February high. The false breakdown of yesterday's low has already occurred, which gives the entry point to buy. It is important to understand that the ratio of risk-to-profit when setting a stop-loss should not be less than 1 to 3.
In favor of the continuation of decrease in the absorption of said day, which took place yesterday. When buying instruments, it is necessary to set a stop loss in case the pair consolidates below the NKZ 1/2.
An alternative downward model will be developed if the closure of today's US session occurs below the level of 0.6825. This will lead to the continuation of the formation of a long-term accumulation zone. The first target of the fall will be the weekly short circuit 0.6760-0.6746, which coincides with the low of the previous week.
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