Control zones USD/CHF 06/24/19

analytics5d104a63d367f.png

Last week’s strong momentum made it possible for the pair to reach the monthly control zone of June. This suggests the need to close all short positions. For further work in the direction of strengthening the franc, it will be necessary to form a correctional model, since the pair has gone beyond the weekly average move. The probability of returning to this range is 90%.

Work towards the weakening of the Swiss franc will be corrective. This suggests the need to consolidate purchases at significant levels of resistance and the search for favorable prices for selling the instrument.

An alternative decline model has a low probability, which makes sales from current levels unprofitable at a distance. Work within the bearish impulse implies finding more favorable prices for selling the instrument. The presence of the pair within the monthly control zone indicates the possibility of the appearance of a large demand. This requires searching for pattern to buy the instrument. The simplest pattern is the “false breakdown” of the nearest daily or weekly lows.

analytics5d104a791e177.png

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Control zones USDCHF 06/24/19

Won't your trader friends like this?
InstaForex
About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply

*