Control zones of EUR/USD pair 12/17/18

The fall on last week's stop was due to the fact that the pair has broken the middle move. The downward model remains unfinished, which allows us to consider one of the nearest control zones as resistance.

In the fall of the pair, last week's weekly control zone of 1.1320-1.1240 was not reached. his is in favor of resuming the downward movement for the implementation of the priority model. The first resistance is 1/4 CZ of 1.1320-1.1316. If today's closing of the American session happens below this zone, it will be possible to sell the instrument in a stop not exceeding 20 points.

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The most favorable prices for sale are located within the 1/2 CZ of 1.1371-1.1362. Testing this zone will be decisive for the downward movement. To continue the fall, it will be enough to close the American session below the specified zone.

For the formation of a reversal pattern, it will be necessary to absorb the Friday fall and close the American session above the level of 1.1371. This will indicate the abolition of the downward movement and will provide an opportunity to look for purchases tomorrow. The probability of implementation of this model is 30%, which makes it auxiliary. Do not forget that the pair has been trading for a long time within the medium-term accumulation zone and so far it has only gone beyond false.

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

Weekly fault - weekly control zone. The area formed by marks from important futures market which change several times a year.

Monthly fault - 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