The pair's sharp fall in the first half of September made it possible for a downward reversal pattern to appear. The pair ended last week below the monthly CZ of September. This indicates an increased likelihood of returning to the specified area. The target is 1.2865. The probability of testing this level is 75%.
Trading plans should consider that the pair is going beyond the average monthly move. Increased volatility may lead to changes in the margin requirements for futures. This, in turn, will increase the range of control zones. An important component in making the decision to buy is forming a false breakout pattern of last week's low.
This pattern is required in order to implement large limit orders that might be below the June high. It is important not to rush with buy positions until one of the days closes higher than the previous one.
The material has been provided by InstaForex Company - www.instaforex.com