Control zones for EURUSD on 08/26/20

The downward movement remains a priority, since the test of WCZ 1/2 1.1854-1.1845 stopped growth. All conditions are in place for the fall to continue, but you may need to retest the weekly high. This should be taken into account by those who have already entered a short position.

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There is a high probability of working in a downward direction, and short positions have a favorable risk-to-profit ratio, since the goal for the decline is the WCZ 1/2 1.1675-1.1666.

To cancel the downward momentum, you will need to close today's trading above the WCZ 1/2 1.1854-1.1845. This will allow you to search for favorable prices for purchasing the instrument tomorrow. The growth target will be the August high. The probability of implementing this pattern is 30%.

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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