Control zones EURUSD 08/09/19

Today's movement takes place within the local accumulation zone, so purchases from the bottom of the flat are the most profitable deals. The WCZ 1/2 1.1170-1.1162 is in the lower range, which is the defining support for the entire upward movement. A test in this zone will indicate a further priority.

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Purchasing from the zone is the most profitable model, since the probability of updating the monthly high is 70%, and the violation of the upward impulse has not yet occurred.

An alternative model that will completely change the balance of power will become relevant if the closure of today's US session occurs below the level of 1.1162. This will indicate the need to close all balances of a long position and search for selling prices on Monday.

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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