The closing of trading last week occurred above the extremum of two weeks ago, which speaks in favor of continuous growth in the medium term. It may require the formation of a correction in order to continue the upward movement. This will allow getting favorable prices for the purchase on one of the control zones as supporter levels.
Working in the upward direction is more likely, which makes purchases from significant support zones to bring profit in similar situations in 70% of cases.
Growth can continue from the current levels without forming deep corrections, however, purchases from current levels do not look profitable as the pair is trading near the annual maximum of 112.15. This can be a strong obstacle to the formation of bullish momentum. This fact should also be used to fix most of the purchases that are open at better prices.
Daily CZ - daily control zone. The area formed by important data from the futures market that change several times a year.
Weekly CZ - weekly control zone. The area formed by marks from important futures market which change several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com