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Control zones NZDUSD 04/29/19

The movement last week was determined by the test of a monthly short circuit, which coincided with a weekly average course. The test of these zones gave the necessary demand for breaking the downward momentum. The goal of growth was the weekly short-cut 0.6731-0.6717. The achievement of which will allow fixing a part of purchases, and bringing the rest to break even, in case of further growth. But for those who are not yet in purchases, it is necessary to consider declining the pair by the close of trading last week. This will allow you to find favorable prices for opening a long position.

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The downward movement remains a medium-term impulse, however, the work in a downward direction is no longer profitable, since the probability of updating the monthly minimum is 30% until the pair reaches the upper weekly short-term.

An alternative model will be developed only if the current closing of the American session happens below the opening of trading on Friday. This will completely cancel the plans for the purchase of the instrument and make it reorganize for sale. The probability of implementing this model is 30%, which makes it auxiliary. Meanwhile, purchases from the current levels also do not look positive, and thus, you need to wait for a corrective decline to open a long position.

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

Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change 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