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20.08.201808:34 Forex Analysis & Reviews: Control zones EUR/USD 20.08.18

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.

On Friday, the formation of a reversal pattern occurred, indicating an upward priority that determines the trade direction for today. The growth target is the weekly KZ 1.1503-1.1484.

Last week, there was a test of the monthly KZ in August which determined the emergence of large demand. At the end of the week, a reversal pattern was formed after the close of the American session above the NKZ 1/2 1.1402-1.1393. This makes it possible to search for purchases with any reduction in the pair, which is corrective. The first support will be the NKZ 1/4 1.1399-1.1395. Testing this zone will enable traders to gain favorable prices for purchases and set a small stop on the possible take-profit, which will be located within the weekly KZ 1.1503-1.1484.

Exchange Rates 20.08.2018 analysis

It should be considered that the upward movement is still corrective from the mid-term point of view, therefore, purchases are required to be fixed during the weekly short-term test, which will act as the determining resistance.

The torus will remain unchanged from current marks. This will prevent players to gain favorable prices for buying, but for those who already hold a long position will quickly close the deal for take profit. Another option for purchases will be the decrease to the maximum possible correction zone for NKZ 1/2 1.1353-1.1344. If this happens, then the pair will test again the monthly control zone, which will make it possible to buy at the most favorable prices. The ratio of risk to profit of these transactions will exceed from 1 to 4, which will make them profitable.

Exchange Rates 20.08.2018 analysis


Daytime CP is the daytime control zone. The zone formed by important data from the futures market, which change several times a year.

Weekly CP is the weekly control zone. The zone formed by important futures market marks, which change several times a year.

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

* The presented market analysis is informative and does not constitute a guide to the transaction.

Samanta Kruder
Analytical expert of InstaForex
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