24.03.202007:27 Forex Analysis & Reviews: Control zones for USDCAD 24.03.20

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Trading within the accumulation zone involves opening deals at the border of the range. The next upward target will be at the monthly high, the weekly control zone is located at 1.4672-1.4649. Testing of this zone will allow you to close some of the long positions and open some short deals if the corresponding pattern is formed.

The medium-term upward movement of the pair remains strong, so there is 70% probability that the pair will update its monthly high.

There are also no obstacles for the pair to form a downtrend until it reaches the weekly control zone at 1.4268-1.4240. Testing of this zone will be important at the current stage. If the pair fails to break through this support level, it will resume its growth with the main target at the month's high.

Daily control zone - an area formed by important data from the futures market that changes several times a year.

Weekly control zone - an area formed by important indications in the futures market which changes several times a year.

Monthly control zone - an area that reflects the average volatility over the past year.

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