Control zones of AUD / USD pair 05.02.19

Yesterday there was a breakdown of the 1/2 CZ of 0.7232-0.7226, indicating a change in priority and a probable decrease to a weekly control zone. Today's growth of the pair will be decisive for the downward model. If the pair fails to overcome the 1/2 CZ of 0.7281-0.7275 formed from yesterday's minimum and upon the outcome leads to an increase in supply upon testing this zone, the formation of a local accumulation zone will continue. This model involves the search for a pattern for sales after testing the level of 0.7273.

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From the mid-term point of view, the upward movement is a medium-term impulse. This allows you to keep some of the purchases opened at the end of January. Holding a long position will be relevant as long as the pair is trading above weekly short-time 0.7169-0.7157.

An alternative growth model will come to the fore if today's growth absorbs the fall of the last two days. This will allow you to look again for favorable price purchase for any downward movement. The growth potential of the pair is high and the immediate goal will be a weekly CZ of 0.7332-0.7320, formed from the current minimum. It is important to understand that the risk-to-profit ratio makes a profitable deal when setting a stop loss and take profit, so be sure to consider this fact when searching for purchases.

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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 CZ - weekly control zone. The area formed by marks from important futures market which change 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