Yesterday's drop in the pair allows us to consider the corrective decline as the main movement at the end of the current week. The first reduction target is the WCZ 1/4 0.9729-0.9723. If today's trading closes below this zone, the next target will be the WCZ 1/2 0.9671-0.9659.
Working in corrective models involves frequent fixations on significant support areas. For this reason, any test of significant support levels should be considered fully.
An alternative model will be developed if today's trading closes above yesterday's high. This will indicate a resumption of growth and the cancellation of the bearish termination model. The probability of continuing the medium-term momentum is higher than 70%, which makes purchases from significant support zones profitable at a distance.
Daily CZ - daily control zone. A zone formed by important data from the futures market that changes several times a year.
Weekly CZ - weekly control zone. A zone formed by important marks in the futures market that changes several times a year.
Monthly CZ - monthly control zone. A zone that reflects the average volatility over the past year.
