Categories: Technical analysis

AIG Wave Analysis – 16 February 2023

• AIG broke daily down channel

• Likely to rise to resistance level 64.00

AIG recently broke the resistance trendline of the daily down channel from January – which accelerated the active impulse wave (3).

The breakout of this down channel is aligned with the clear multi-month uptrend from last October.

AIG can be expected to rise further toward the next resistance level 64.00 (top of B-wave of the previous ABC correction (2)).

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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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