empty
 
 
25.08.2020 07:12 AM
Control zones for USD/CAD on 08/25/20

The pair continues to trade within the medium-term accumulation zone. An "absorption" pattern of the daily level has formed after yesterday's rally. Today, the nearest resistance zone will be the WCZ 1/2 1.3261-1.3249. Testing this zone will be decisive for the pair's further movement.

This image is no longer relevant

If testing the WCZ 1/2 leads to a stop in growth and the formation of a sell pattern, then short trades will come forward. The lower border of the flat will be the target of the decline.

To break the flat structure and exit the accumulation zone, it will be necessary to close today's trading above the WCZ, which will allow us to consider buying tomorrow. The growth target will be the weekly CZ 1.3392-1.3369. It should be noted that the downward trend remains a medium-term impulse.

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

Monthly CZ - 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