Copper recently reversed up sharply from the long-term support level 193.40 (yearly low from 2016, standing far outside of the lower weekly Bollinger Band).
The upward reversal from the support level 193.40 started the active short-term correction 4 (which belongs to the downward impulse sequence (3) from the start of 2020).
Given the strength of the support level 193.40 – EURGBP is likely rise further toward the next resistance level 230.00 (target price for the completion of the active correction 4)
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- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
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- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
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