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Control zones USDCAD 01/10/19

The main point in the construction of the medium-term trading plan is the exit of the pair beyond the monthly short-term January. The probability of large demand and return inside the zone increases to 90%.

The third day of the pair is trading outside the monthly short-term of January. This makes it impossible to search for patterns to sell the instrument, as the probability of returning inside the specified range is 90%. It is important to understand that purchases must be made only after the formation of the reversal pattern, so as not to be among those who catch the second, third and tenth bottom. With the breakdown of one of the lower control zones and the closure of the US session above it, purchases will come to the fore and will be profitable.

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It is important to note that yesterday the pair reached the zone of the average weekly move, which confirms the high probability of growth. It is important to understand that a continued decline is possible, but any sales outside the middle course have a low probability of working out.

For the formation of the reversal pattern, it requires that today's closing of the US session must occur above NKZ 1/4 1.3233-1.3228. If this happens, the next growth target will be NKZ 1/2 1.3279-1.3290. Trading towards the weakening of the Canadian dollar in the second half of the month is more profitable, so the search for a reversal pattern in growth is the basis for building a trading plan.

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

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

Monthly KZ - 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