Control zones NZDUSD 10/07/19

The pair reached the weekly CZ 0.6333-0.6321 and the range of the average course at the end of last week. This made it possible to stop growth. Continued growth may be the basis for building a plan at the beginning of this week. The downward movement should be considered as corrective to one of the significant support areas.

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Work in the upward movement may become the main one for the first half of the month if the closure of the nearest trading session occurs above the weekly control zone.

To implement the alternative model, the absorption of the Friday movement and the closure of the US session below the WCZ 1/2 0.6275-0.6269 will be required. In this case, the upward model will be completed, and sales will again come to the fore.

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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