From the mid-term point of view, the downward movement remains an impulse, which allows us to search for favorable prices for the sale of the instrument. The main resistance remains at the weekly fault of 1.4027-1.3999.
Medium-term plan.
Last week, a local accumulation zone was formed, which allows consideration of further growth. The goal is the weekly short-term of 1.4027-1.3999. Achieving this zone will allow you to get the most profitable prices for the sale of the instrument. To continue the decline, it is necessary to keep the price below 1.4027 during American sessions. Continuation of the fall from current marks is also possible, but it is less likely, due to the fact that an upward impulse model was formed on the earlier time frame.
To disrupt the downward structure, the pair needs to rise and consolidate above 1.4027, which will lead to further growth. The goal of which will be the monthly CP.
Intraday plan.
Last week, the formation of a reversal upward pattern occurred. At the end of the week, favorable purchase prices were obtained for the control zone test of 1/2 at 1.3785-1.3771. Continued growth is highly probable that makes holding purchases as an optimal strategy. The main goal of fixing the long position remains the weekly short-term of 1.4027-1.3999. Achievement of this zone will allow fixing most part of purchases, and the rests to transfer in break-even. Abolition of the upward variant will occur when one of the American sessions closes below the level of 1.3771.
The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.
The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.
The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.
