At the end of last week, the reversal model developed and this model was confirmed today. The goal of the growth is the weekly KZ 0.8879-0.8862, which will determine further development of events upon testing this level.
Medium-term plan.
Weekly KZ of 0.8879-0.8862 is the main goal of the upward movement. The pair forms a reversal model of medium-term order, which allows to keep purchases made last week. The weekly short-term test obliges to close part of the purchases and consider sales after breaking the ascending structure on the junior timeframe. In the case of fixing a pair above the level of 0.8879, the next target will be the monthly KZ of January.
For the formation of an alternative model, it is necessary to absorb growth in the beginning of the current week. This will allow working on the medium-term accumulation zone, where the weekly extremes will come to the fore.
Intraday plan.
Today, the pair is anchored above the main resistance zone of the NKZ 1/2 at 0.8782-0.8774. When the American session close above this zone, the next weekly growth target for short-term will be 0.8879-0.8862. The upward movement will receive the status of impulse, which will allow to search for purchases with a decrease in the rate. A weekly short-term test will require partial fixation of a long position, the rest of purchases must be transferred to a breakeven.
The daytime CP is the daytime control zone. The zone is formed by important data from the futures market.
The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.
The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.