Control zones for EURUSD on 05/01/20

Trading 01 mai 2020 Donner votre avis

Yesterday's trade closed above the weekly control zone of 1.0927-1.0909, which suggests a high probability of continued growth. The next target of the bullish momentum is the WCZ 1/2 of 1.1027-1.1018. The probability of reaching this zone is 75%, so any downward movement must be used to find favorable prices for buying.

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The first support will be WCZ 1/4. If falling to this zone will result in forming a buy pattern, then you should not expect a deeper decline.

An option of a deep correction will develop if today's trading closes below the WCZ 1/4. This will allow you to buy the tool after testing WCZ 1/2 1.0822-1.0873. This model has a very favorable risk to profit ratio, which makes it a priority.

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Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes several times a year.

Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

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

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