Yesterday, the pair once again tested the weekly KZ of 0.9914-0.9895, which led to an increase in demand. It is important to note that this zone is located within the monthly KZ. This allows you to buy the instrument risk-free until the end of this month, since the probability of remaining within this range is at 70%. It is necessary to take into account the fact that the growth is still a mid-term correction, therefore, consolidating profit on the upper limit of the flat is required.
Working within the flat's framework makes it possible for you to take profit in parts based on the pair's exit from the range. In this case, a partial transfer of purchases and sales to breakeven will be required.
An alternative model will be developed in case the pair breaks through yesterday's high and goes beyond the flat. The closing of the US session should be higher than yesterday. This will provide the most favorable prices for selling the tool in the future. The main resistance is still the NKZ 1/2 1.0006-0.9996, a test of which will make it possible for you to look for sales with a medium-term prospect and a high probability of updating the March low.
Daily KZ - 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