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22.03.201909:38 Forex Analysis & Reviews: Control zones of NZD / USD pair on 03/22/19

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Yesterday's decline allowed the pair to reach 1/2 control zone at 0.6868-0.6861, which determined the appearance of demand. To continue the growth, it is necessary to keep the price above the specified zone.

Exchange Rates 22.03.2019 analysis

Testing the a CZ of 0.6868-0.6861 gave the opportunity to enter the purchase. As long as the pair is trading above the zones, the probability of updating the weekly maximum is 70%. Working in this direction allows you to take about 70 points of profit. Yesterday's high is outside the current average move, which may cause the position to be postponed over the weekend.

The upward movement remains an impetus but the level of 0.6928 is a strong long-term resistance, which the pair cannot overcome this year. Profit fixations at this mark are optimal when working in a long position.

In the event that the close of trading this week occurs below the level of 0.6861, an alternative model will be developed. This will allow you to search for sales on Monday. The probability of the implementation of this model is now 30%, which makes it auxiliary.

Exchange Rates 22.03.2019 analysis

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

Weekly CZ - weekly control zone. The area is formed by marks of important times for the market.

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

Samanta Kruder
Analytical expert of InstaForex
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