Control zones AUDUSD 08/09/19

Yesterday, the pair went beyond the weekly average. Fixation rate of purchases during the test of the weekly control zone 0.6826-0.6813 is required. The rest should be transferred to breakeven, and in the case of the formation of a reversal pattern, "false breakdown" of yesterday's maximum completely close the purchase.

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The upward movement is now an impulse, since the growth rate exceeds the similar decline of the previous days.

An alternative model will be developed if the closure of today's US session occurs above the level of 0.6826. This will allow us to consider the pair's purchases for the next week after returning to the level of 0.6784. It is important to note that part of the purchases can be kept with the target at 0.6956, since this level is significant in the medium term.

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

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

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

The material has been provided by InstaForex Company - www.instaforex.com