Control zones of USD/CHF pair 11.02.19
The first candle of the current week has a range of 105 points, which indicates the implementation of the upward model, with the goal of 1/2 CZ of 1.0050-1.0040. If you take it into account, further developments will depend on whether the close of today’s trading will be below the close of Friday. If this happens, the downward movement will come to the fore, otherwise, the upward movement will continue.
If this candle is not a market quotation, then ascending goals cannot yet be considered. I think it’s right to use the maximum of last week to build correctional zones, ignoring today’s extremum.
An alternative model of the fall will be developed if the closing of today’s trading will occur below the 1/4 CZ f 0.9976-0.9971. This will lead to the formation of a local accumulation zone. The goal of the reduction will be the 1/2 CZ of 0.9924-0.9915, the test of which will determine the further priority for the second half of February.
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