Categories: Technical analysis

Amazon Wave Analysis – 30 June, 2020

• Amazon reversed from support level 2670.00

• Likely to rise to 2800.00

Amazon recently reversed up sharply with the daily candlesticks reversal pattern Hammer from the pivotal support level 2670.00 (former resistance from the start of June – which stopped the previous impulse wave 3).

The upward reversal from the support level 2670.00 started the active medium-term impulse sequence (3). Amazon is likely to rise further toward the next resistance level 2800.00 (which stopped the previous impulse wave (1)).

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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