The upward movement of the current week is a priority. It was made possible by the formation of a reversal model. Monday's trading close above the wcz 1/2 0.9143 - 0.9129 gave the opportunity to consider purchases. The growth target is the weekly CZ 0.9292-0.9265. The purchase may require the formation of a correction model.
The trend in the upward direction may become the main one in the first half of September. Transactions have excellent potential and the risk-to-profit ratio will be profitable below the current levels.
If the closing of today's trading will be below WCZ1/4 0.9133-0.9126, an alternative model in which a local accumulation zone is formed will be developed. This will allow us to consider a deeper correction to the significant market maker level formed last week.
Day Control Zone. An area formed by important data from the futures market that changes several times a year.
Weekly Control Zone. An area formed by important marks of the futures market that changes several times a year.
Monthly Control Zone. A zone that reflects the average volatility over the past year.The material has been provided by InstaForex Company - www.instaforex.com