Control zones for USD/CAD on June 26, 2020

Posted On 25 Jun 2020

The main direction of the USD / CAD pair is upward, so buy positions are currently the most profitable in the medium term. The nearest resistance is the monthly control zone in June, the lower border of which is located at the highs of last week. This increases the likelihood of a stunt in the coming days.

The next target area is the WCZ 1/2 1.3783-1.3767, so part of the positions may be left in the hopes of its test.

However, a fall and continued formation of the accumulation zone will occur, if an “absorption” pattern forms today in the daily chart. The closing of weekly trades will be the new starting point for both upward and downward patterns.

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

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

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

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

Source:: Control zones for USD/CAD on June 26, 2020

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