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Today's growth is a correction to the bearish momentum of last week, so the WCZ 1/4 1.1055-1.1052 will act as the first resistance. If the zone test leads to the formation of a pattern of "absorption", then sales will again come to the fore. The first target of the decline will be the local weekly minimum.
On Monday, the margin requirements changed, which obliges to recalculate the control zones. Those areas that have not been tested need to be rebuilt to meet the new requirements.
An alternative growth model will be developed if today's US session closes above yesterday's high. This will form a pattern of "absorption" of the daily level. The next growth target will be WCZ 1/2 1.1095-1.1088. The test of this zone will be decisive for the entire downward medium-term momentum.
Daily CZ – daily control zone. A zone formed by important data from the futures market that changes several times a year.
Weekly CZ – weekly control zone. The zone formed by the important marks of the futures market, which change several times a year.
Monthly CZ – monthly control zone. A zone that reflects the average volatility over the past year.
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