Friday testing of 1/4 WCZ took place at 0.9882-0.9876, which led to an increase in demand. If today the pair holds above this zone, then purchases will remain relevant. The first goal of the upward movement is the maximum of last week. This test will allow you to close part of the position and the remainder of the volume can be transferred to breakeven.
It is important to note the formation of a price gap relative to last week's close. The probability of its absorption is above 70%, which makes it possible to hold purchases right now.
An alternative model will be developed if the pair can gain a foothold below the 1/4 WCZ. This will allow you to monitor the continuation of the downward movement and consider purchases at more favorable prices. The main support will be 1/2 WCZ of 0.9822-0.9810 and the test of which will be decisive for the entire upward cycle.
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.
