Categories: Technical analysis

American Express Wave Analysis – 21 February 2025

– American Express broke the support zone

– Likely to fall to support level 290.00

American Express recently broke the support zone between the support trendline of the extended daily up channel from August and the 50% Fibonacci correction of the upward impulse from December.

The breakout of this support zone accelerated the c-wave of the active minor ABC corrective wave 4 from the middle of January.

American Express can be expected to fall to the next support level 290.00 (former monthly low from January and the target for completing the active ABC wave 4).

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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