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02.12.201902:19 Forex Analysis & Reviews: Control zones for AUD/USD on 12/02/19

The downward movement of the pair remains a medium-term impulse, and thus, holding a short position is the main plan. On the other hand, closing of trading in November occurred at almost the minimum of the month. This indicates a high interest of market sellers who make trading at less favorable prices.

Exchange Rates 02.12.2019 analysis

Working in the downward direction will be the main plan in the first week of December. The goal of the reduction is the Weekly Control Zone of 1/2 0.6739-0.6733. Now, reaching the zone will close most of the sales.

The proximity of the target zone Weekly Control Zone 1/2 suggests the need to consider the formation of a correctional model. If the zone test leads to an increase in demand and the pattern of "absorption" or "false breakdown" is formed, then purchases from the Weekly Control Zone 1/2 will come forward.

Exchange Rates 02.12.2019 analysis

Daily CZ - daily control zone. The zone 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. The zone that reflects the average volatility over the past year.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Samanta Kruder,
Analytical expert of InstaSpot
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