FX.co ★ Control zones for EURUSD on 03/10/2020

Yesterday, the pair's dew stopped at the resistance zone of the WCZ 1/2 1.1462-1.1455. This made it possible to consider a sell pattern, as the pair reached an average weekly move. Today's declines have already led to a test of the lower midrange zone. Just below the average weekly range is the weekly CZ 1.1452-1.1338, which has a 75% test probability.

Working towards the continuation of the medium-term bullish momentum is the main one, so the weekly short-term price test should be considered as an opportunity to fix sales and search for a buy pattern.

An alternative model will be developed if the pair exits and gains a foothold below the weekly CZ. The current rate is far beyond the monthly CZ, which increases the probability of a return to it by up to 90%. The main target level is 1.1283. A return to this price will allow you to retain some of the sales that were opened yesterday and will allow you to get a favorable price for the purchase of the instrument in the future.

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.