The pair is trading between two significant zones. The resistance was Weekly Control Zone 1/2 1.2388-1.2372, and the weekly CZ 1.2246-1.2213 became the support. To continue medium-term growth, closing of trading above the level of 1.2388 on Monday will be required. This will pave the way for the September maximum. This model has a 50% chance of working out.
The continuation of the medium-term growth may become the main model for the coming week, as many pairs associated with the dollar formed a reversal pattern in the direction of strengthening.
An alternative model will be developed if the Weekly Control Zone 1/2 test leads to an increase in supply and a halt to growth. This will indicate the formation of a local accumulation zone, where the main goals will be the extremes of last week.
Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zonethat reflects the average volatility over the past year.
