For most of the past week, the pair was trading above the opening level of trading in April. This indicates an upward priority, however, growth was stopped at a weekly short-term price of 1.2384-1.2400, which makes it possible to obtain favorable prices for the purchase of the instrument.
Medium-term plan.
The third month in a row, the pair is forming a medium-term accumulation zone, the boundaries of which are located on February and March extremes. These levels must be taken into account when building a medium-term trading plan. At the beginning of this week, the pair is trading away from these extremes, which suggests the need to find prices for making transactions within the medium-term flat. The upward movement last week is a local impulse, which allows you to consider purchases from current marks, the first purpose of which will be a repeated test of a weekly short-term fault of 1.2400-1.2384. The next target of the growth will be NCP 1/2 1.2492-1.2484, in the case of consolidating the pair above the level of 1.2400.
The alternative model will develop in the event that today's closing of the American session will occur below the opening level of trading in April. This will allow the sale to be considered tomorrow.
Intraday plan.
On Thursday and Friday last week, there were two tests of the main support for the NCP 1/2 1.2313-1.2305. While the pair is trading above this level, the upward movement remains an impulse. The first goal will be to retest the weekly short-term fault of 1.2400-1.2384. The next target, already in the medium term, will be the NCP 1/2 1.2492-1.2484. To cancel purchases, you will need to close one of the next US sessions below the level of 1.2305. This will open the way for the fall to the weekly short-term fault of 1.2229-1.2213 and will allow us to search for favorable prices for the sale of the instrument.
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.
