FX.co ★ Control zones USDCAD 10/17/19

During the third day, the pair forms a support level. The WCZ 1/4 1.3195 – 1.3192 was tested yesterday, which made it possible to enter into the purchase of the instrument. The growth target is WCZ 1/2 1.3266 – 1.3257. Reaching this zone will allow you to close the deal and consider the sale after the formation of the pattern "false breakdown".

Work in the flat requires you to close part of the position on the upper border, which is the maximum of the current week.

An alternative model will be to reduce the pair to the weekly control zone of 1.3171 – 1.3154. If this test leads to the emergence of large demand and the formation of a pattern of "absorption", then favorable prices for the purchase of the instrument will be obtained.

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.