Today it is necessary to consider two scenarios, as the WCZ 1/4 test takes place. If a false breakout pattern of Wednesday's peak forms at the beginning of the European session, then sales will come to the fore. The first target of the decline will be the November low.
The above model will be a logical continuation of the flat medium-term structure.
Continued growth will require the opening of a European session to be above the WCZ 1/4 zone and retention there. This will make WCZ 1/2 1.0002-0.9990 a target zone. Purchasing will come to the fore. Further upward movement will become the main one for building a trading fall for the next week.
Daily CZ - daily control zone. The area formed by important data from the futures market, which change several times a year.
Weekly CZ - weekly control zone. The zone formed by important marks of the futures market, which change several times a year.
Monthly CZ - monthly control zone. The zone, which is a reflection of the average volatility over the past year.
The material has been provided by InstaForex Company - www.instaforex.com