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Control zones of EUR / USD pair on 23.07.18

At the end of last week, the formation of a reversal upward model took place whereas the goal of which was a weekly control zone of 1.1759-1.1777. The test of this zone will determine the further priority for a week.

The last level of the offer is located at 1.1752, above which there were large limit orders for sale. A little above this level is the first target weekly control zone of 1.1759-1.1777. The test of the indicated marks will allow to fix the most part of purchases and to consider sales, in case of formation of a pattern of absorption and closing of the American session below the control zone. This will confirm the flattened structure of the movement.

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For those who do not have a purchase, you will need a favorable price. This will make the reduction of the pair to the a control zone of 1.1693-1.1689 and hold the price above the zone. Purchases can be made with a limit order. An important factor for opening purchases from the limits of the specified zone is the drop from current marks without a weekly test. If the first short-term test takes place first, the limit will no longer be profitable and the entry points to the purchase will have to be transferred to lower prices.

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For the formation of a reversal downward model, a breakdown and consolidation below a control zone of 1.1658-1.1649 are required for today's US session. The probability of implementing such a model is 30%, so it should only be used as an auxiliary.


The daytime CP is the daytime control zone. The zone formed by important data from the futures market that change several times a year.

The weekly CP is the weekly control zone. The zone formed by marks from important futures market which change several times a year.

The monthly CP is the monthly control zone. The zone is a reflection of the average volatility over the past year.

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