Control zones EURUSD 12/2/2019

A sharp increase in demand at the US session on Friday made it possible for us to test the first resistance zone of the WCZ 1/4 1.1020-1.1017. If consolidation above this zone does not occur, then the fall will resume on Monday. The first goal of the decline will be the low of the previous week.

analytics5de477961ef60.png

Work in the downward direction remains a priority. The main purpose of the fall is the weekly control zone 1.0953-1.0939, the probability of reaching which is at 75%.

An alternative model will be developed if the pair consolidates above the WCZ 1/4 at the US session on Monday. This will make it possible for you to consider growth to WCZ 1/2 1.1060-1.1053. The test of this zone will be decisive for the entire downward movement of November.

analytics5de477ac1b26f.png

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