If the opening of today’s trading on the American session occurs below the WCZ 1/4 1.3303-1.3299, then this will provide an opportunity for the sale of the instrument. The reduction target will be WCZ 1/2 1.3259-1.3250. The upward movement of the last week on October 2 led to the closing of trading above the daily level of the average move, so this mark will be the first target for fixing the profit.
Work in the downward direction is correctional. This suggests the need to fix sales in parts at significant levels of support.
An alternative option for the resumption of growth will be developed if the opening of today’s US session occurs above the WCZ 1/4. This will allow you to enter the purchase, the first goal of which will be the maximum of the last week.
Daily CZ – daily control zone. The zone formed by important data from the futures market, which changes several times a year.
Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ – monthly control zone. An area that reflects the average volatility over the past year.
The material has been provided by InstaForex Company – www.instaforex.com
Source:: Control zones USDCAD 10/08/19