The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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Work in the upward direction remains a priority. Yesterday's drop did not exceed the WCZ 1/2 1.2100-1.2092. This speaks to the strength of market buyers. The growth target remains the Weekly Control Zone 1.2199-1.2183. Today's test of this zone will allow you to close most of the purchases. The remaining part should be left in case the pair is fixed above the zone. This will allow the bullish trend to continue, and the next target mark will be the annual high.
If the test of the Weekly Control Zone leads to the formation of the engulfing pattern at the level from H1 to D1, then sales will come to the fore. The target of the downward movement will be the minimum of the current week, coinciding with the WCZ 1/2.
While there is no reversal pattern, it is still too early to talk about sales. It will take one to two days for the pattern to form. Until then, sales are not profitable.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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