Medium-term trend: Bullish

The bull market is continuing. The price has already reached the target zone №1 0.72222-0.72097, the target zone №2 0.72909-0.72847 and it is going to the target zone №3 0.73597-0.73472. Any price reduction is considered like corrective. The best prices to try to have a long position are the control resistance zone 0.72342-0.72280. 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.

Trading recommendation:

It’s recommended to try to have a long position near the control resistance zone 0.72342-0.72280 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.

Target zone:

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