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06.07.2020 08:43 AM
Control zones for EUR/USD on July 6, 2020

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.

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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.

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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.

Samanta Kruder,
Analytical expert of InstaForex
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