20.03.202007:42 Forex Analysis & Reviews: Control zones for USDCAD on 03/20/2020

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The current decline of the pair is corrective to a strong medium-term bullish momentum. Therefore, sales should have target levels and quickly move to breakeven. Today, the pair is trading within the weekly control zone of 1.4424-1.4401. Fixing below this zone will indicate the continuation of the pair's decline to the next target zone of 1.4166-1.4144.

Yesterday's sales can already be converted to breakeven. There are no formed conditions for purchases yet. Today's fixing below the weekly short-term limit will allow you to once again enter the sale of the instrument.

An alternative model for continuing growth without a deep correction will develop if the closing price is higher than the weekly control zone of 1.4424-1.4401. This will allow you to consider purchases, the first goal of which will be to update the monthly maximum.

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. The zone formed by important marks of the futures market, which change several times a year.

Monthly CZ - monthly control zone. A zone that reflects the average volatility over the past year.

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