Control zones of USD/CAD pair 01/24/19
January 24, 2019 3:22 pmVideo
Latest News
- Video market update for April 23, 2024 April 23, 2024
- Trading Signals for EUR/USD for April 23-25, 2024: buy above 1.0681 (21 SMA – 3/8 Murray) April 23, 2024
- Analysis for the EUR/USD pair on April 23rd. Euro currency prepares for another decline April 23, 2024
- Analysis for the GBP/USD pair on April 23rd. Sellers failed to take the mark of 1.2313 on the first attempt April 23, 2024
- Technical Analysis – AUDUSD gears up after disappointing US PMIs April 23, 2024
- Technical Analysis – Meta stock falls below 50-SMA ahead of earnings April 23, 2024
- USD/JPY: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- GBP/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Technical Analysis – USDJPY fights with new 34-year high April 23, 2024
- EUR/USD: Simple trading tips for novice traders on April 23rd (US session) April 23, 2024
- Alphabet Q1 Earnings: Strong ad business but AI initiatives lag – Stock Markets April 23, 2024
- GBP/USD: trading plan for the US session on April 23rd (analysis of morning deals). The pound continues to decline April 23, 2024
- EUR/USD: trading plan for the US session on April 23rd (analysis of morning deals). The euro has shown rapid growth April 23, 2024
- EUR/USD. April 23rd. Bulls and bears are in balance April 23, 2024
- GBP/USD. April 23rd. The bears continue to attack April 23, 2024
- Gold edges lower as Middle East tensions ease April 23, 2024
- Slightly lower volatility across the board ahead of key US data – Volatility Watch April 23, 2024
- Technical Analysis – UK 100 index hits new all-time highs but rally may be cooling April 23, 2024
- XM Teams up with ‘Charity Right’ for Change April 23, 2024
- Technical Analysis – US 500 index rebounds off 2-month low below 5,000 April 23, 2024
After a two-week exit beyond the monthly CZ of January, the pair returned to its limits, which indicates the need to keep open purchases and consider new ones in the event of a decline.
The upward movement of the pair is a weekly impulse. The fixation above 1/2 CZ of 1.3290-1.3279 allowed to open a long position. Yesterday’s testing of 1/4 CZ of 1.3307-1.3302 made it possible for those who work more conservatively to enter. The purpose of the growth is the weekly CZ of 1.3402-1..3382. Achieving this zone will allow you to close most of the purchases and consider the option of forming a reversal model in the event of a large offer.
Purchases from current levels are not profitable, since the model is already realized by 90%. On the higher timeframe, the downward movement still remains a long-term impulse.
An alternative model should be considered in case the pair can break through and consolidate above the level of 1.3402 at one of the US sessions. This allows considering of a medium-term change of movement to ascending. The probability of implementing this model is 30%, thus, without confirmation of the purchase at the highs of the current week are an unprofitable investment.
Daily CZ – daily control zone. The area formed by important data from the futures market that change several times a year.
Weekly CZ – weekly control zone. The area formed by marks from important futures market which change several times a year.
Monthly CZ – monthly control zone. The area is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: