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The pair's downward movement continues to be a medium-term impulse, which makes it possible to keep part of the sales opened last week. Half of the position or more should be closed, since the pair has reached the lower boundary of the accumulation zone, which increases the likelihood of large demand.
After a breakdown of the May low, it is necessary to monitor the formation of the absorption pattern. If it is formed, then you will need to purchase the instrument inside the flat range.
An alternative model of decline will be relevant if the closure of the US session occurs below the May low. This will indicate the strength of the downward movement and the absence of accumulating large limit purchase orders. The main strategy for today is to hold a short position that was opened last week.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
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