France120 Wave Analysis 28 October, 2020

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• France120 broke support area

• Likely to fall to 3465.00

France120 opened with the downward gap today which broke below the support area lying at the intersection of the major support level 3700.00 (monthly low from September and June) and the support trendline of the daily down channel from the middle of June.

The breakout of this support area accelerated the active impulse waves (iii) and 3 – which belong to wave (3) from June.

France120 is likely to fall further toward the next support level 3465.00 (low of the minor correction (ii) from the middle of May).

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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