Categories: Technical analysis

Soy Wave Analysis 10 November, 2020

• Soy rising inside sharp C-wave

• Likely to reach 1150.00

Soy continues to rise under the strong bullish pressure after the price broke above the round resistance level 1100.00 (which stopped the previous minor impulse wave iii at the end of October).

The active impulse wave (iii) belongs to the sharp upward C-wave inside which Soy has been rising from the middle of August.

Soy is likely to rise further toward the next resistance level 1150.00 (target price for the completion of the active impulse wave C).

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: SOYUSD

Recent Posts

Dollar: Slowing Momentum, Same Direction

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

3 hours ago

Bitcoin Fell Back to Local Support

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

4 hours ago

EURCHF Wave Analysis 20 December 2024

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

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

This website uses cookies