Today, the main support will be the NKZ 1/2 1.3341-1.3330. The test of this zone will make it possible for you to get favorable prices for the purchase. The upward movement is still a medium-term impulse, therefore the growth target is the weekly short-term of 1.3474-1.3454. Purchases must be calculated in such a way that the risk-to-profit ratio when making a transaction is greater than 1 to 3.
This week's downward movements do not go beyond the limits of the average daily movement, which speaks of an impulsive attribute.
For the formation of a reversal descending model, the pair will need to fall to the NKZ 1/2 and its breakdown with consolidation lower during the US session. If this happens, you will have to give up purchases and start searching for a pattern for selling the instrument.
Daily KZ - daily control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly KZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com