Sugar recently reversed down from the resistance zone located between the key resistance level 10.70 (former multi-month support from September of 2019) and the 50% Fibonacci retracement of the earlier downward impulse from March.
The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Hammer.
Given the strength of the previous sharp downward impulse from February – Sugar is likely to fall further toward the next round support level 10.00.
- GBPUSD broke support zone - Likely to fall to support level 1.2465 GBPUSD currency…
- USDCHF broke resistance zone - Likely to rise to resistance level 0.9000 USDCHF currency…
The decline in EURUSD was driven by weak PMI figures, with France and Germany both…
Gold has reached record high in euro above 2600, and growing fast in dollar terms…
The crypto market is booming as the anticipation of regulatory changes grows. Bitcoin nears $100K,…
- GBPCAD broke support zone - Likely to fall to support level 1.7500 GBPCAD currency…
This website uses cookies
