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The opening of trading of the current week occurred at the level of a monthly low, which indicates a downward priority. Retention of sales is the basis of a trading plan. Any growth must be perceived as corrective and used for repeated entries in a short position. The closest resistance is the WCZ 1/4 1.2467-1.2459, the test of which obliges you to consider selling patterns.
The fall can be continued from the current levels. In this case, selling will not be profitable, since it is not possible to set an adequate stop loss.
An alternative model will be developed if growth exceeds Friday's fall. The probability of forming such a model is 30%, which makes it auxiliary. Closing today's trading above the level of 1.2467 will move the movement into the flat phase, where the weekly extremes will take the first place.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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