Last week, a corrective model was formed for the upward medium-term impulse, which allowed obtaining favorable prices for purchase within a short-term fault of 1.2469-1.2448
Medium-term plan.
At the beginning of this week, the main plan is the retention of purchases made after the test of a weekly short-term fault of 1.2469-1.2448. In the event of a depreciation, purchases can be considered provided if the price is kept above the control zone. The first goal of growth is the annual maximum, formed two weeks earlier. This extremum is located within the monthly short-term fault of February 1.2690-1.2647, which indicates the need to fix purchases in full or in part, depending on the response to the renewal of the annual maximum.
To cancel the upward movement, Friday's absorption will need to be absorbed and anchored below the level of 1.2448 at one of the next US sessions. This will allow us to consider the fall to the lower monthly short-term fault.
Intraday plan.
Last Friday, the pair tested the main zone of resistance NCP 1/2 1.2561-1.2552, which indicates the need to fix part of the purchases. To continue the growth, it will require the closure of the US session above the level of 1.2561. If the pair can keep below the indicated resistance zone, then it will be possible to sell the instrument when forming the reversal pattern on any timeframe. The growth target will be a weekly short-term fault of 1.2676-1.2655, formed from the last week's low, and the benchmark for the fall will be the low of last week.
The daily short-term fault is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.
The weekly short-term fault is the weekly control zone. The zone formed by important futures market marks, which change several times a year.
The monthly short-term fault is the monthly control zone. The zone, which is a reflection of the average volatility over the past year.
