The downward movement continues to be a mid-term impulse. Yesterday, the monthly low was updated and this has not yet led to the formation of an absorption pattern, so retaining a portion of sales is the main plan for today. The medium-term goal of the decline is the lower limit of the average weekly range of 1.2424.
Below the average course of the week is the weekly control zone of 1.2418-1.2385. The coincidence of these levels indicates the importance of this support at the medium-term level.
An alternative growth model will be developed if the closure of today's US session happens above the level of 1.2597. This will open the way for growth to the next target levels in the second half of this week.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
