FX.co ★ Control zones NZDUSD 02/12/2020

Today, there was a strong impulse to the growth against the last bearish movement in January. As a result of the growth, the WCZ 1/2 0.6435-0.6430 was broken and the zone of the average weekly move was reached. The upward movement will become a priority if today's trading closes above the level of 0.6435. The first target of the bullish impulse will be the weekly CZ of 0.6496-0.6485.

It is important to remember that the level of 0.6502 is the main medium-term goal. The probability of a return to this level is 90%, so part of the position must be left before it.

An alternative model will be developed if growth is stopped at current levels. This will create a local accumulation zone. Until the end of the current week, the probability of fixing above the average move zone is 25%, so the decrease should be used to get favorable purchase prices with the prospect of growth next week.

Daily CZ - daily control zone. A zone formed by important data from the futures market that changes several times a year.

Weekly CZ - weekly control zone. A zone formed by important marks of the futures market that change several times a year.

Monthly CZ - monthly control zone. A zone that reflects the average volatility over the past year.