Categories: Technical analysis

Facebook Wave Analysis – 07 January, 2020

  • Facebook broke strong resistance level 208.00
  • Likely to rise to 218.00

Facebook recently broke above the strong resistance level 208.00 (former strong resistance level which stopped the sharp uptrend in July, and also wave 3 in December).

The breakout of the resistance level 208.00 accelerated the active impulse waves 5 and (3).

Facebook is likely to rise further toward the next round resistance level 218.00 (multi-year high from July of 2018 and the 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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