Today’s test of the WCZ 1/2 0.9293-0.9279, which coincides with the weekly zone of the average move, allows you to close all sales. The probability of forming a corrective upward pattern increases, which could allow you to get more favorable prices for selling the instrument in the future.
Do not forget that the downward movement is a medium-term momentum, so after a corrective growth, the fall is likely to resume.
If the pair starts to grow, it is necessary to determine the zone for profitable selling of the instrument. The most interesting prices for opening a short position will be located at the previous week’s low.
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 07/23/20