empty
 
 
02.04.2019 04:27 AM
Control zones USDCAD 04/02/19

A reversal pattern was formed at the beginning of this week, which determines the bearish direction as a priority. The decline's target is the weekly short-circuits of 1.3245-1.3226. The probability of reaching this zone is 70%. Selling requires a better price, so any growth must be used to enter a short position.

This image is no longer relevant

Returning to the range of yesterday's Asian session can provide favorable prices for selling that you would need to use to enter the position. Sales from current grades do not look profitable, since the size of the stop relative to the potential profit is not profitable.

An absorption of yesterday's fall will be required in order to stop the downward impulse and head into the flat. This will not disrupt the bearish movement, however, it will make it possible to form a local accumulation zone, where the upper range will become the defining resistance, the test of which will allow you to get the most favorable prices for selling. Work towards strengthening the Canadian dollar will bring profit in 70% of cases, so it is better to abandon purchases.

This image is no longer relevant

Daily KZ - daily control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly KZ - weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.

Monthly KZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.

Samanta Kruder,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback