Control zones for USD/CAD pair on 09/09/19

Trading 09 sept 2019 Donner votre avis

Closing last week's trading occurred below the average weekly move. This indicates an increase in the probability of a return of up to 90%. The level of 1.3229 is the main target. Just above this level is the defining resistance zone of the 1/2 WCZ of 1.3244-1.3253. As long as the pair is trading below this zone, the downward movement will remain an impulse.

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Selling the instrument from current levels is not profitable, as you have to agree with the deep correction model and suffer a drawdown if there is a return to the average weekly move.

Continued fall from current levels will be an alternative model that will not allow obtaining favorable prices for sale. The downward movement is a strong impulse. Therefore, the breakdown of the low of the last week is highly likely but it is not profitable to use it to enter the sale. In most cases, any decrease will lead to the formation of a corrective upward model in the future.

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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 area formed by marks from the important futures market, which changes several times a year.

Monthly CZ - monthly control zone. The area 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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