The fall of last week was stopped after the pair reached the lower limit of the monthly control zone and the weekly average move. This caused the emergence of demand, which indicates the accumulation of a large number of limit buy orders at current levels and below.
It is important to note that the monthly control zone coincides with the significant minimum formed in May of this year. This makes this range decisive for long-term movement.
An alternative model of falling has a 30% probability, therefore, it is extremely unprofitable to consider sales at current levels. In most cases, updating the minimum of the month in the coming days will lead to the emergence of an even larger demand, which will allow getting favorable prices.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
