Categories: Technical analysis

Abercrombie & Fitch Wave Analysis 7 December, 2020

• Abercrombie & Fitch reversed from support level 20.00

• Likely to rise to 23.55

Abercrombie & Fitch recently reversed up from the support area lying between the round support level 20.00, 50% Fibonacci correction of the upward impulse from October and the upper trendline of the daily up channel from August.

The upward reversal from this support area started the active short-term impulse wave 5 – which belongs to wave (C) from August.

Abercrombie & Fitch is expected to rise further toward the next resistance level 23.55 (top of the previous minor impulse wave 3).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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