Control zones for NZDUSD on 08/25/20

The downward movement remains impulsive, as yesterday's test of the WCZ 1/2 0.6568-0.6561 caused an offer to emerge and an absorption absorption to form. The first goal of the decline is the previous week's low. Once it is reached, the short position must be partially consolidated, and the rest of it must be converted to breakeven.

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Working in a downward direction is still a priority, so any growth that does not exceed the levels of the WCZ will be corrective.

To break the downward momentum, it will take absorbing yesterday's fall and closing above the WCZ 1/2. The probability of developing this is at 20%. Once it is implemented, you will have to give up sales and consider purchasing the instrument.

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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