The growth of the euro is a strong medium-term impulse. This indicates the need to find favorable prices for the purchase. Since the closing of trading last week occurred above the weekly and monthly average moves, the probability of the formation of a correctional model increased to 90%.
Work towards continued growth will be relevant all week, as the growth of the pair has led to a violation of the downward long-term model. Any decrease should be perceived as a correction and look for opportunities to buy the instrument.
An alternative model will be developed if a local accumulation zone is formed. This will require retention of the Friday high and the formation of a false breakout pattern. At least two days should be traded within the Friday movement.
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.
