Categories: Technical analysis

Facebook Wave Analysis – 1 July, 2020

• Facebook started impulse wave (5)

• Likely to reach 240.00

Facebook continues to rise inside the strong medium-term impulse wave (5) which started earlier from the support area lying between the lower daily Bollinger band and the 38.2% Fibonacci retracement of the previous extended impulse wave form April.

The upward reversal from the aforementioned support area created the daily candlesticks reversal pattern Piercing Line. Facebook is likely to rise further toward the next resistance level 240.00 (which stopped the previous sharp waves (3) and B).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: Facebook

Recent Posts

Nasdaq 100 Wave Analysis 23 December 2024

- Nasdaq 100 reversed from strong support level 21000.00 - Likely to rise to resistance…

16 hours ago

USDJPY Wave Analysis 23 December 2024

- USDJPY reversed from key support level 156.35 - Likely to rise to resistance level…

16 hours ago

US indices: has the bullish trend broken?

The recent declines in US indices may have broken the bullish trend, indicated by technical…

21 hours ago

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

1 day ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

1 day ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

4 days ago

This website uses cookies