Control zones for USDCAD on 07/03/2020

Today there is a regular test of the WCZ 1/2 1.3572-1.3557. If the current week's trading closes below the specified zone, then sales will come to the fore at the beginning of the next week. The goal of the decline will be a weekly short-term limit of 1.3430-1.3403, which will allow you to get a favorable risk-to-profit ratio for short positions.

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Working within the framework of a downward medium-term momentum will allow you to hold sales that were opened earlier and enter into new transactions.

An alternative growth model will develop if today's trading closes above yesterday's high. This will allow you to search for the entry point to buy on Monday. The probability of implementing an ascending and descending model is approximately equal, since the pair is trading within the WCZ 1/2.

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Daily control zone. A zone formed by important data from the futures market that changes several times a year.

Weekly control zone. The zone formed by important marks of the futures market, which change several times a year.

Monthly control zone. A zone that reflects the average volatility over the past year.

The material has been provided by InstaForex Company - www.instaforex.com