On Friday last week, the reversal pattern was formed which made the upward movement a priority. The target growth is the weekly KZ 0.9052-0.9033 near the November monthly KZ.
Medium-term plan.
The upward movement is the priority for this week, which indicates the need to find favorable prices to purchase the instrument. Reducing the pair is considered corrective, hence, testing one of the lower control zones can be run through to open a long position. The goal of the upward movement is the weekly KZ 0.9052-0.9033, testing this area will require full or partial fixation of purchases. It is important to note that there is a quarter maximum within the specified zone, which makes it even more significant.
Growth is able to continue from its current levels without forming a deep correction since it was previously in the upward movement. In this case, it is important to break the quarterly high, where a large offer may appear that allows gaining favorable prices for selling.
Intraday plan.
The pair was fixed above the NKZ 1/2 0.8946-0.8937 on Friday, indicating a change in priority. The nearest support is the NKZ 1/4 0.8913-0.8909, testing this area will allow considering any reversal pattern for purchase. The zone is located within the average daily course which seems to be very accessible today. The determining support is the NKZ 1/2 0.8865-0.8856. As the pair is trading above this zone, the upward movement will remain a priority. The target of the bullish momentum is the weekly KZ 0.9033-0.9052.
Daytime CP is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.
Weekly CP is the weekly control zone. The zone formed by important futures market marks, which change several times a year.
Monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.
* The presented market analysis is informative and does not constitute a guide to the transaction.