Control zones for AUDUSD on 05/01/20

The probability of forming a downward model and returning to the limits of the monthly CZ in April is at 90%. This allows you to search for entry points to sell from any corrective levels. The main target of the fall is the 1.6322 level. From the current levels, this will make it possible for you to take 130 points of profit. To enter the sale, it is better to obtain more favorable prices.

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There is a breakthrough of the WCZ 1/2 0.6481-0.6472. This could be the starting point for next week's movement.

The probability of forming an alternative growth model is 25%, which does not make it profitable to purchase from current levels. It is very risky to consider long positions until the pair returns to the 1.6322 level. The option of forming an accumulation zone will develop if today's trading closes above the WCZ 1/2.

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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