Last month, the September high was tested, the weekly CZ and the zone of the average weekly run were reached. This could be a new starting point for building a medium-term model. If Monday's movement continues to keep prices below the September high, and by the close of the US session, a pattern of absorption of the daily level will form, then the downward movement will become a priority.
Work in the downward direction will be medium-term in nature, therefore, as a goal, it is best to determine the monthly low.
To continue the growth, consolidating above the level of 108.49 at the US session will be required. If this happens, you will need to search for a buy pattern for any decrease in the pair. This model will allow you to go beyond the medium-term flat, which is formed in the second month.
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.
