While the pair is trading below the NKZ 1/2 1.1285-1.1276, the main direction of trade is the fall. Yesterday’s maximum is formed near the specified zone, which may allow finding sales in the false breakdown of this extremum. The first goal of the fall is the minimum of April. This allows you to get a profitable risk-earnings ratio for the sale.
It is important to note that the downward movement remains a medium-term impulse. This indicates a high probability of its continuation.
Breaking the downward structure will require the closure of today’s US session above the level of 1.1285. This will open the way for the pair to grow to the March maximum. Work within this model will be possible tomorrow. In case of cancellation of a downward option, it is necessary to get rid of all short positions.
Daily KZ – daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly KZ – weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly KZ – monthly control zone. The zone, which is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Control zones EURUSD 04/09/19