Medium-term trend: Bullish
The bull market is continuing. The price has already reached the target zone №1 0.76308-0.76218 and it is going to the target zone №2 0.77208-0.77118. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.75867-0.75777. In case of the price is fixed below the control resistance zone the medium-term trend will be changed to the bear market and all long positions should be closed.
It’s recommended to try to have a long position near the control resistance zone 0.75867-0.75777 (100 points from current minimum) with using the pattern «Head&Shoulders» at least on timeframe M15.
The control resistance zone is constructed from the current maximum. If this maximum changes by n points the zone should also be shifted n points up. The risk/reward ratio for every order should be at least 1/3.
All zones are constructed on the basis of data from the CME futures market.
Trade at the best prices in Forex, Capital, Commodity, Derivative, Spot, Cryptocurrency and Futures markets with Amega – a reliable, popular broker.