Categories: Technical analysis

Standard Chartered Wave Analysis – 6 May, 2022

• Standard Chartered reversed from resistance zone
• Likely to fall to support level 5.510

Standard Chartered earlier reversed down from the resistance zone lying between the multi-month resistance level 5.8 (which stopped the sharp uptrend in February) and the upper daily Bollinger Band.

The downward reversal from this resistance zone stopped the earlier impulse wave 3 of the impulse wave (3) from March.

Given the overbought daily Stochastic – Standard Chartered bank can be expected to fall further toward the next support level 5.510.

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

Recent Posts

USDJPY. Current situation #tradelikeapro #tradingstrategy #trandingshorts #usdjpy #usdjpytoday

Today is Monday, December 15th, and we're going to talk about the Japanese yen, where…

1 hour ago

ECB, BoE, and BoJ take different paths

Trump pushes for more Fed rate cuts, while no changes are expected from the ECB…

4 hours ago

Crypto Market Holds at $3T Amid Broken Uptrend

Crypto market stays near $3T amid correction, ETF inflows rise, sentiment weakens, and volatility expected…

5 hours ago

Gold Wave Analysis – 12 December 2025

Gold: ⬇️ Sell - Gold reversed from strong resistance level 4350.00 - Likely to fall to…

3 days ago

EURGBP Wave Analysis – 12 December 2025

EURGBP: ⬆️ Buy - EURGBP reversed from support zone - Likely to rise to resistance level…

3 days ago

Filecoin Wave Analysis – 12 December 2025

Filecoin: ⬇️ Sell - Filecoin broke key support level 1.435 - Likely to fall to support…

3 days ago

This website uses cookies