FX.co ★ Control zones for EURUSD on 07/01/20

The pair continues to be in the flat phase, so the main goal is to go down to the weekly control zone of 1.1167-1.1149. While this zone has not been tested, the likelihood of renewed growth is 25%. The determining resistance is WCZ 1/2 1.1291-1.1282. A test of this zone will indicate a further priority. There is a high probability that the drop will continue after the test of WCZ 1/2.

Work within the medium-term flat implies the use of weekly and monthly extremes to enter and exit positions.

Two conditions are necessary in order to resume growth and obtain favorable purchase prices. If today's trading closes above WCZ 1/2 1.1291-1.1282, then purchases will come to the fore tomorrow. If a strong demand appears after testing the weekly control zone and the absorption pattern forms in the direction of growth, then this should also be used to enter a long position.

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.