Control zones for USD/CHF on July 16, 2020

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Yesterday’s absorption of the daily level makes it possible to consider purchases at any of the pair’s decline. Wednesday’s close occurred above the WCZ 1/4 0.9440-0.9433. This makes it possible to choose WCZ 1/2 0.9519-0.9504 as a target for consolidating purchases.

Yesterday’s growth led to going beyond the accumulation zone. This makes it possible to use the retest of the upper border to enter a long position.

The alternative option of resuming the fall has a low probability, so it is not profitable to consider sales from the current levels. The second model that can be used is the test of WCZ 1/2 and the formation of an absorption pattern. This will allow you to sell the instrument.

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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 zone formed by important marks of the futures market, which changes several times a year.

Monthly CZ – 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

Source:: Control zones for USDCHF on 07/16/20

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