Control zones for USD/CAD pair on Sept 19, 2019

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The upward movement is an impulse, so keeping a part of the purchases open this week is the best strategy. Testing the weekly short of 1.3326-1.3308 led to a halt in growth. Therefore, there is a likelihood of the formation of a reversal pattern. In the case of yesterday’s “false breakdown” formation, a short position can be opened with the target of 1/2 WCZ of 1.3221-1.3212.

Working between the two zones may become the main in the second half of the month. Sales from the upper border and purchases from 1/2 WCZ should be considered when patterns appear on the zone tests.

An alternative model will be developed if today’s trading closes above the level of 1.3326. This will indicate a continuation of the upward impulse. The next growth target will be the upper zone of the average weekly move, where full fixation of the long position will be required.

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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 marks from the important futures market, which changes 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

Source:: Control zones for USD / CAD pair on 09/19/19

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