Control zones USDCAD 11/07/18
November 7, 2018 9:25 amVideo
Latest News
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
- GBP/USD. April 17th. Inflation in Britain is falling, but not as much as the market wants April 17, 2024
- Tesla Q1 Earnings: Poor deliveries point to disappointing results – Stock Markets April 17, 2024
- Video market update for April 17, 2024 April 17, 2024
- Forex forecast 04/17/2024: EUR/USD, GBP/USD, Gold, Bitcoin and Ethereum from Sebastian Seliga April 17, 2024
- Technical Analysis – Gold struggles to jump above 2,400 April 17, 2024
- GBP/USD: trading tips for beginners for European session on April 17 April 17, 2024
This week, the formation of a local accumulation zone continues which does not violate the rising medium-term structure. Purchases from NKZ 1/2 1.3071-1.3061 must be kept on.
Upward movement remains a priority which allows you to hold a long position. With the test of the last week maximum, it is necessary to transfer the purchases to breakeven as the control zones will shift. Moreover, if the pair is able to consolidate above the extreme of the previous week, then the next target will be the CGN 1/2 1.3229-1.3228, a test which will allow to complete the next growth phase. Purchases from the current grades are not profitable since the ratio of risk to profit is difficult to bring to the required 1: 3.
There is a high probability of continuing the formation of a flat zone. This will require a partial fixation of purchases at the upper limit of the range in case an extremum test leads to a sharp increase in supply.
Violation of the upward priority will occur if the pair can absorb the growth of the current week. The closure of the American session should occur below the NCB 1/2 1.3071-1.3061. More likely, this will allow to view sales at the end of the current week and the beginning of the next one. To date, the probability of the realization of a reversal is close to 30%. This plan must be used as an auxiliary. Most currencies are rising against the US dollar, so approximation of expiration can have a similar effect on USDCAD.
Daily CZ – daily control zone. The area formed by important data from the futures market which change several times a year.
Weekly fault – weekly control zone. The zone is formed of the marks of the futures market which change several times a year.
Monthly fault – 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
Related Posts: