FX.co ★ Control zones NZDUSD 10/17/19

The further movement of the pair will be determined by the WCZ test 1/2 0.6303-0.6297. If the pair fails to gain a foothold above this zone, the downward movement will continue. The main objective of the decline is the weekly control zone of 0.6231 – 0.6219.

Today, the WCZ 1/2 test has already occurred. The formation of the absorption pattern will allow entering the sale to those who have not yet entered after the zone test.

An alternative model will be developed if the closing of today's trading occurs above the WCZ 1/2. This will cancel the unfinished bearish model and allow you to look for favorable prices to buy the instrument tomorrow.

Daily CZ – daily control zone. An area formed by important data from the futures market that 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.