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Control zones NZDUSD 10/21/19

The closing of last week's trading occurred above the average move. This makes it possible to get a better price. The probability of a return to the upper boundary of the average course of the last week 0.6357 is 90%, which makes it possible to buy an instrument after correction.

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Purchases from the current levels are not profitable. Therefore, the formation of a correctional model is required. After the formation of a local maximum of the current week, it is necessary to build a control zone and place a limit buy order.

An alternative growth model is being formed. The growth target is the Weekly Control Zone 1/2 0.6435-0.6429. Testing this zone will allow you to consolidate the next part of a long position and consider sales after the formation of the pattern of "false breakdown". This will allow working to return to the average weekly move at the level of 0.6357.

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Daily CZ - daily control zone. The zone formed by important data from the futures market that changes several times a year.

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

Monthly CZ - monthly control zone. The zone that reflects the average volatility over the past year.

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