Categories: Technical analysis

American Express Wave Analysis – 8 February, 2022

• American Express broke multi-month resistance level 188.75

• Likely to rise to resistance level 195.00

American Express today broke above the key multi-month resistance level 188.75 (which stopped the previous sharp upward impulse (5) in October of 2021).

The breakout of the resistance level 188.75 should accelerate the active impulse waves 3 and (3).

Given the clear daily uptrend – American Express  can be expected to rise further toward the next resistance level 195.00 (target for the completion of the active 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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The FxPro Tech Analysis Team

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