Adobe Wave Analysis – 25 October, 2019

Adobe reversed from support zone
Likely to rise to 274.00

Adobe recently reversed up from support zone lying between the key support level 260.00 (multi-month low from June), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from last December.

The upward reversal from this support area created the daily Morning Star – which stopped the earlier waves C and (B).

Adobe is expected to rise further and retest the next resistance level 274.00 (former strong support from August and September).

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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Tags: ADBE

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