19.11.201808:32 Forex Analysis & Reviews: Control zones EURUSD 11/19/18

On Friday, the priority ascending model was implemented which was formed after the American session consolidated above the NKZ 1/2 1.1316-1.1307. The first goal of growth is achieved, and further upward movement will depend on the availability of demand above the level of 1.1417.

Last week, it was allowed to consider long deals as priority ones as consolidation above the NKZ 1/2 1.1316-1.1307 occurred. This opened the way to the next target zone of weekly CP 1.1417-1.1399, which was also achieved. The close of the week of trading relative to the opening indicates the impulsive nature of growth which allows you to keep some purchases in the medium term. Moreover, transfer to breakeven of a long position is required in case of a large offer.

The first daily support will be the NCB 1/4 1.1373-1.1369. It is where you can search for a pattern to buy an instrument. The basis of support this week will be the NCB 1/2 1.1327-1.1318, a test which will allow you to get the most favorable prices for the purchase.

For the formation of a reversal model, it will be necessary to absorb Friday's growth and close US trading below 1.1318.This will speak about the completion of the upward momentum and will provide an opportunity to search for favorable prices for the sale. The probability of forming such a model is 30%, which makes it auxiliary. The focus should be on searching for purchases, as an upward weekly move can be a long-term impulse.

Daily CZ - daily control zone. The area is formed by the important data from the futures market which change several times a year.

Weekly fault - weekly control zone. The area formed by the important marks of the futures market which change several times a year.

Monthly fault - monthly control zone. The zone which is a reflection of the average volatility over the past year.