Likelihood of GBPUSD growth increases this week

Trading 13 sept 2020 Commentaire »

The pair's sharp fall in the first half of September made it possible for a downward reversal pattern to appear. The pair ended last week below the monthly CZ of September. This indicates an increased likelihood of returning to the specified area. The target is 1.2865. The probability of testing this level is 75%.

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Trading plans should consider that the pair is going beyond the average monthly move. Increased volatility may lead to changes in the margin requirements for futures. This, in turn, will increase the range of control zones. An important component in making the decision to buy is forming a false breakout pattern of last week's low.

This pattern is required in order to implement large limit orders that might be below the June high. It is important not to rush with buy positions until one of the days closes higher than the previous one.

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The material has been provided by InstaForex Company - www.instaforex.com

EURUSD longs in the second half of September

Trading 13 sept 2020 Commentaire »

The upward long-term momentum stopped in August, which made it possible for an accumulation zone to appear. Buyers dictated the end of last week. This led to forming a reversal pattern in order to continue growth. It is important to understand that strengthening the euro is still the mid-term trend. Moving down should be seen as an opportunity to buy an instrument at better prices.

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Based on last month's movement, we can see that a strong support zone is being created. It acts as a springboard for the pair's growth.

You can get very favorable prices for longs in case of a deeper corrective movement before the monthly CZ for September. This pattern has a lower likelihood, but is necessary as a back-up plan. The September high is still the main growth target, so some of the buy positions must be consolidated when it is updated.

The material has been provided by InstaForex Company - www.instaforex.com