Categories: Technical analysis

Cisco Systems Wave Analysis 1 December, 2020

• Cisco Systems broke resistance area

• Likely to rise to resistance level 45.00

Cisco Systems recently broke the resistance area lying between the resistance level 42.40 (former monthly high from September) and the 50% Fibonacci retracement of the downward correction from August.

The breakout of this resistance area accelerated the active medium-term upward impulse sequence (3).

Cisco Systems is expected to rise further toward the next resistance level 45.00 (former strong support from July).

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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