Categories: Technical analysis

HP Wave Analysis 3 December, 2020

• HP reversed from support level 22.00

• Likely to rise to 24.00

HP previously reversed up from the key support level 22.00 (former resistance from March – acting as support after this price was broken by the previous impulse wave (1)).

The upward reversal from the support level 22.00 started the active medium-term impulse wave 3.

Given the overriding uptrend – HP is expected to rise further toward the next resistance level 24.00 (former monthly top from February intersecting with the wide daily up channel from 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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