The pair has already updated its monthly high even before today's European session started. This indicates the strength of buyers of the European currency. It is important to understand that the search for a reversal model should occur only if the absorption pattern occurs at the daily level. While there is such a strong strengthening of the exchange rate, it is still required to search for favorable prices for purchasing the instrument.
The target zone is the weekly control zone of 1.1271-1.1253. A significant return level of 1.1245 is below this zone.
No conditions have been created for forming an alternative downward model. In order for the process of forming a deep correction or accumulation to occur, growth must stop and it is also required to form an absorption pattern on the daily timeframe. While this is not there, it is pointless to consider sales, since the probability of updating the monthly high is above 75%.
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.
