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Working the downward direction remains a priority as it broke the structure of the other day. Moreover, the pair tested yesterday the defining resistance zone of the 1/2 WCZ of 1.1078-1.1070. In case of resumption of the fall of the pair, the main goal will be the weekly short of 1.0950-1.0934, which is located slightly below the weekly average move. This makes it a medium-term goal.
It is important to note that there will be news on the interest rate tonight and all pairs associated with the dollar will go beyond the average daily and weekly moves with a high degree of probability.
An alternative model will be developed if the closure of today's US session occurs above the level of 1.1078. This will allow you to change the direction of trade and make you abandon sales. Further growth of the pair this week is possible to the upper limit of the average turn, which is located slightly above the high of last week. Hence, purchases are not profitable from current levels.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The area formed by marks from the important futures market, which changes several times a year.
Monthly CZ - monthly control zone. The area is a reflection of the average volatility over the past year.
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