05.03.202007:37 Forex Analysis & Reviews: Control zones for USDCHF on 03/05/2020

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Today, the pair is trading between two significant zones. The resistance is the WCZ 1/4 0.9577-0.9571 and the support is the zone of the average weekly move, which the pair cannot overcome for three days. This indicates the need to look for a buy pattern when approaching yesterday's low and sell if a "false breakdown" pattern of yesterday's high occurs.

The downward movement is a medium-term impulse, so sales look more preferable.

The determining resistance is the WCZ 1/2 0.9640-0.9629. As long as the pair is trading below this zone, the bearish momentum will continue, and the probability of updating the monthly minimum will be 75%. The test of the specified zone will allow you to get the most favorable prices for the sale of the instrument.

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. A zone formed by important marks of the futures market that 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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