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Control zones AUDUSD 10.12.18

The downward movement, formed last week, is still a trigger. This implies the search for favorable prices for selling the instrument. Today's growth has reached the average daily range, which has led to the emergence of a proposal.

Last week, there was a breakthrough in the NKZ 1/2 0.6899-0.6892. This made it possible to consider the current growth as an opportunity to open a short position. It is important to understand that the main goal is the weekly short-term order of 0.6829-0.6815. Until this zone is reached, the probability of renewed growth is less than 30%. The main plan is to keep the sales opened last week, or search for a pattern to sell at better prices.

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It should be taken into account that the current downward movement is still against a strong bullish momentum. Therefore, fixation on the weekly short-term should be large enough, in the region of 70% of the entire position.

For the formation of the reversal model, it will be necessary to continue the growth of the pair and closing the nearest US session above NKZ 1/2 0.6914-0.6907. If this happens, the new target for purchases will be the weekly short-term 0.6991-0.6977, which coincides with the December high. This makes this range significant in the medium term. While the pair is trading below 0.6991, the main focus of work remains the fall.

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Day short - daily control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly KZ - 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