The current position of the Asian session regarding yesterday's trading indicates the presence of demand for the New Zealand dollar. If the close of today's trading occurs above the open, this may serve as the first signal for a medium-term accumulation zone to form, where deals from the boundaries of the range come to the fore.
An important element in building an accumulation model will be the position of Asian sessions relative to each other. Today's close of trading should be higher than when trade opened yesterday. This will indicate an upward priority in the next couple of days.
The downward movement remains a medium-term impulse, therefore, the growth will allow you to get favorable prices for selling the instrument in the future. The first goal of growth is yesterday's high, the next goal will be at the high of the current week. If a false breakout pattern forms in yesterday's high, it is necessary to close all purchases and consider selling the instrument.
Daily CZ - daily control zone. The area formed by important data from the futures market, which changes several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which changes 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