The pair is trading outside the monthly CZ after trading ended in April. This indicates a high probability of a return to the 0.6322 level. Today, the instrument is located near the CZ 1/2 0.6473-0.6464. Testing this zone will become decisive for further movement. In case an Absorption pattern is formed, sales will come to the forefront, the first goal of which will be a return to the 0.6322 level.
After returning to the upper border of the monthly control zone in April, the price may continue the downward movement to the WCZ 1/2 0.6283-0.6274.
An alternative growth model will develop if today's trading closes above the WCZ 1/2. This will indicate a continuation of the upward medium-term momentum . Purchases from current levels and above are not profitable, since the likelihood of the pair returning to the monthly CZ in April is at 90%.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
