Control zones NZDUSD 07/29/19

The downward movement is a mid-term impulse. This makes it possible to keep last week's sales open. It is important to understand that the close of trading on Friday occurred below the range of the average weekly move. This suggests an increase in the probability of a return of up to 90%. A high probability of a return may provide better prices for selling.

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After returning to the framework of last week's average move, a search for a resistance zone will be required. This is necessary to enter a short position in a simple pattern.

The alternative option of falling without returning to the middle course has a low probability, so it is better not to make sales from current grades. If the fall continues without a return, then it is necessary to find a significant support level target in order to enter a correctional long position, since the probability of a return is 90%.

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

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change 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