Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

Banking Areas of AUD / USD pair

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Yesterday, the next zone of bank compilation was formed. It coincided with the zone in the previous week, which speaks of the flat nature of the medium-term movement. Closure of yesterday’s trading occurred within the zone. Thus, the priority is not yet known.

For the third week in a row, the banking compilation zones are formed on the same marks. This allows us to talk about the continuation of the formation of the medium-term accumulation zone. Support is defined at the level of 0.7340, as there is an increase in demand below it. Above the level of 0.7443, there is an increase in supply. These levels must be taken into account when determining prices for setting take profits and searching for patterns to enter into transactions. From the top of the range, it is profitable to look for sales, while from the bottom, we should look for purchases. At this time, the probability of an upward and downward movement is approximately equal.

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The last impulse movement was leaning towards the strengthening of the Australian dollar, which may cause the continuation of growth and the renewal of the weekly maximum. You can purchase a tool from within the zone of the bank compilation. The stop-level will determine today’s low. The first goal in fixing purchases will be the level of 0.7443. Further growth will depend on whether the pair can gain a foothold above this level. To exit the flat, you will need to close either above 0.7443 or below 0.7340 in the US session.

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The material has been provided by InstaForex Company – www.instaforex.com

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