Categories: Technical analysis

Ebay Wave Analysis 29 January, 2021

• Ebay reversed from long-term resistance level 60.15

• Likely to fall to support level 54.00

Ebay continues to decline inside the short-term correction (ii) which started earlier from the long-term resistance level 60.15 (which stopped the sharp uptrend in July).

The active correction (ii) belongs to the medium-term upward impulse wave (3) from the end of December.

Ebay is expected to fall further toward the next support level 54.00 (intersecting with the 38.2% Fibonacci correction of the previous sharp upward impulse wave from November).

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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Tags: eBay

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