FX.co ★ Control zones for EURUSD 03/18/2020

The pair fell by 2% yesterday, which indicates the continuation of the downward momentum. The next goal is the 1.0919 level. The probability of testing this mark is 90%, which indicates the need to retain part of the sales. New sales must be made at more favorable prices. An important resistance is the weekly control zone of 1.1126-1.1111.

Work towards weakening the European currency may become the main one for the second half of this month. It is important to understand that the growth up to the weekly CZ will be corrective.

An alternative model will be developed if the closing of today's trading occurs above the weekly control zone. This will indicate the emergence of interest in purchases and the transition to the accumulation phase. The probability of forming a reversal model is 25%, which makes it unprofitable to purchase from current marks.

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.