empty
 
 
23.07.2020 07:14 AM
Control zones for USD/CAD on July 23, 2020

The priority is still to lower the quote in the trading chart, however, the pair is currently trading near the weekly control zone, which increases the likelihood of the impulse stopping and a correction forming within the chart. When testing the zone, a consolidation of short positions is needed.

This image is no longer relevant

To short the quote, it is important to remember that strong impulses have a high chance of continuing, so any growth should be used to find profitable selling positions.

Thus, in order to get these profitable selling prices, a rise to last week's low is needed, which will give an opportunity to re-enter a bearish mood. Hold sales until the quote tests June's low, which is located at 1.3314.

This image is no longer relevant

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 area formed by the important marks of the futures market, which changes several times a year.

Monthly CZ - monthly control zone. The area that reflects 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