For two days, the pair overcame the average weekly move, suggesting the need to fix a long position and expect a correctional decline. Today, there was a test of weekly short of 0.6838-0.6825. The formation of a reversal pattern of "false breakdown" will allow you to enter a short corrective position. The first goal will be the maximum of the previous week, located at the level of 0.6791.
Working in an upward impulse implies the search for favorable prices in purchases with a depreciation. The first support will be 1/4 WCZ of 0.6793-0.6789.
To form a local zone of accumulation, it will be necessary to close today's trading below the level of 0.6789. This will allow the pair to decline further to the 1/2 WCZ of 0.6759-0.6752. At the beginning of next week, working on the downward direction will be the main one. It is important to understand that the last impulse spurt occurred in the week when the expiration of futures contracts takes place. This may become the reason for the formation of a medium-term accumulation zone in the near future.
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.
