FX.co ★ Control zones for EURUSD on 07/17/20

The pair fell yesterday and formed an absorption pattern of the daily level. It will now take 1-2 days of accumulation or decline in order to continue growth. The main support is WCZ 1/2 1.1361-1.1352. While the pair is trading above the specified zone, the probability of updating the weekly and monthly high is 75%. This obliges us to consider purchases as the main transaction.

The growth stopped due to testing last month's high. If the pair cannot overcome the level of 1.1421, then the correctional decline will become the main one in the near future.

To break the upward momentum, it will be necessary to close today's trading below WCZ 1/2 1.1361-1.1352. If this happens, then sales will come to the fore on Monday. The target of the fall will be the WCZ 1.1263-1.1245.

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.