Control zones for USDCHF on 08/24/20

Testing the WCZ 1/2 0.9154-0.9141 today will make it possible for you to determine the next priority. The accumulation zone will continue to form if today's trading closes below the zone. The first goal of the decline will be last week's low.

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It is important to determine when to test this zone as well as the previous week's high. A false breakout of this range will indicate the presence of large limit sell orders.

If today's WCZ 1/2 test results in a higher closing price, then purchases will prevail throughout the current week. A reversal model of the higher timeframe will form, which will allow you to search for entry points to a long position. The growth target will be the weekly CZ 0.9304-0.9276.

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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