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Yesterday's move may be decisive for next week. Closing trades below WCZ 1/4 1.3303-1.3299 indicates an increase in the likelihood of a decline to 70%. The purpose of the fall is WCZ 1/2 1.3259-1.3250. Testing this area will close part of the sales. The rest should be transferred to breakeven in case of continued downward movement.
The medium-term outlook for the decline can be assessed as updating the October low. This model will become relevant if the pair consolidates below the WCZ 1/2.
An alternative growth model will be developed if the pair stops at WCZ 1/2 and a false breakout pattern is formed. This will lead to a sharp increase in demand and the resumption of upward movement. This model should be considered along with the bear one
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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