22.04.202008:13 Forex Analysis & Reviews: Control zones for USDCAD on 04/22/20

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The pair reached the upper monthly CZ of April yesterday. It should be noted that the lower monthly control zone was already tested this month, which resulted in strengthening the pair. Today, it is necessary to consider options for selling the instrument. The easiest option would be a false breakout of yesterday's high, which will make it possible for you to enter a short position.

It is not profitable to consider purchase options, since the probability of a return within the limits of the monthly CZ will increase to 90%.

An alternative model will develop if the weekly high is not updated and the pair starts to decline from the current levels. The closing price should be lower than yesterday's opening. This will form an absorption pattern of the daily level and make it possible for you to enter into purchasing tomorrow until the end of the week.

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.

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