10.01.202004:37 Forex Analysis & Reviews: Control zones of USDCAD on 01/10/2020

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Yesterday's move beyond the weekly average move caused a sharp reaction. Today the pair is already trading within the zone. The likelihood of continued growth declined to 30% until the end of today. It is important to note that the growth led to a test of the weekly control zone 1.3119-1.3104. This may indicate the end of the corrective upward medium-term movement, which should be used.

Yesterday's positioning of the US session indicates the appearance of a major offer, since the close of trading is at the opening level.

An alternative model has a low probability, which does not exceed 30%. This suggests that purchases from current marks are not profitable. The first goal of the decline is WCZ 1/2 1.3027-1.3020. The test of this zone will be decisive for the upward movement, and may be the beginning of a new bearish phase. The first sales profits should be focused on this zone.

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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