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17.07.202007:27 Forex Analysis & Reviews: Control zones for AUDUSD on 07/17/20

Previously opened purchases must be kept. The first goal for growth is to renew weekly and monthly highs. It is important to understand that a reversal model will only form in case closing of trades occur below the WCZ 1/2 0.6949-0.6940. Until this happens, buying is the best strategy. Yesterday's decline made it possible for us to get favorable prices to open a long position.

Exchange Rates 17.07.2020 analysis

Closing today's trading above the week's local high will make it possible for us to talk about growth lasting until next week.

Testing the WCZ 1/2 0.6949-0.6940 will be required to obtain more favorable prices for purchasing the instrument. If this happens, then the entrance will require any absorption pattern to form on a time frame of at least m30. It is necessary to close today's trading below the WCZ 1/2 to break the upward pattern. This will allow you to exit all long positions and consider sales on Monday.

Exchange Rates 17.07.2020 analysis

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.

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

Samanta Kruder,
Analytical expert of InstaSpot
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