Technical analysis by AMEGA - Opinion
After the price is fixed upper the control resistance zone №1 1.14051-1.13959 the medium-term trend has changed to the bull marketwith the aim to the target zone 1.15063-1.14879. The probability of reaching the target zone is about 75%.Any price reduction is considered like corrective.The best prices to try to have a long position are the control resistance zone №2 1.13479-1.13387. In case of the price is fixed below the control resistance zone №2 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 nearthe resistance zone 1.13939-1.13983 (50 points from current maximum) and thecontrol resistance zone №2 1.13479-1.13387 (100 points from current maximum)with using the pattern «Head&Shoulders» at least on timeframe M15.
Thecontrolresistancezone №2 and the resistance zoneareconstructedfromthecurrentmaximum. If this maximum changes by n pointsthe zones 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.
Internal border – Maintenance margin size in points
External border – Initial margin in points
Control resistance zone – the half from the target zone
Resistance zone – the quarter of the target zone
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It’s recommended to try to have a short position near the control resistance zone №2 52.741-52.527 (235 points from current minimum) with using the pattern «Head&Shoulders» at least on M15.