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06.07.202008:43 Forex Analysis & Reviews: Control zones for EUR/USD on July 6, 2020

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The opening of today's European session will indicate the direction of trade. If the quotes develop above the WCZ 1/2 1.1285-1.1276, buy positions to decrease the pair in the charts. The closing of today's trading will be decisive for the movement of the pair for the whole week.

The upward movement that transpired in late May and early June remains a medium-term impulse which until now has not been broken. This makes buy positions more attractive in the medium term.

But, a turn of the quotes downward will develop, if today's trading closes below the WCZ 1/2 1.1285-1.1276. Such will make sell positions more favorable tomorrow, which will target a descent to the weekly control zone 1.1167-1.1149, until the close of trading occurs below the level of 1.1285.

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 area formed by the important marks of the futures market, which changes several times a year.

Monthly CZ - monthly control zone. The area that reflects the average volatility over the past year.

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