The trading closed yesterday below the weekly control zone 1.3955-1.3926. It may be necessary to form a correctional upward model to continue to decline. It is important to note that yesterday's decline led to going beyond the monthly control zone. This increases the probability of returning to its limits up to 90%.
Work within the downward movement remains a priority, but sales from current levels are not profitable.
An alternative model will be developed in case today's trading closed above yesterday's opening. This will allow us to form a pattern of "absorption" of the daily level, which will indicate the formation of a local accumulation zone and a high probability of continuing corrective growth.
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 zone that reflects the average volatility over the past year.
