On Friday last week, a monthly control zone test took place, so the sharp increase in supply was not surprising. Today the pair is trading near WCZ 1/4 1.3644-1.3636. If the trading closes below the specified zone, the first reversal pattern will be formed.
The goal of the fall will be WCZ 1/2 1.3572-1.3557, which will allow us to obtain a favorable risk-to-profit ratio for transactions on sale.
Continued growth will occur if the WCZ 1/4 test leads to the formation of the "absorption" pattern and a sharp increase in demand. It is important to understand that in the next couple of days a downward correctional pattern is more likely to form.
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.
