Control zones for AUDUSD on 08/31/20

Last week's close was at a high. This makes it possible for us to assume that the upward movement will continue with a high probability. Long deals from current levels are not profitable, so you need to create a corrective downward pattern for repeated buy deals.

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Working in an upward direction is a priority, which makes it possible to leave part of the long deals based on further growth.

The probability of forming an alternative reversal pattern is less than 20%. It is not profitable to consider sales from current levels. Any reduction should be considered as an opportunity to buy the instrument. The most favorable prices are within the range of the WCZ 1/2 0.7292-0.7283.

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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