Categories: Technical analysis

Sugar Wave Analysis – 13 August, 2020

• Sugar broke key resistance level 13.00

• Likely to rise to 13.5

Sugar today broke above the resistance level 13.00 (which stopped the previous minor impulse wave (iii) at the start of this month).

The breakout of the resistance level 13.00 coincided with the breakout of the 61.8% Fibonacci correction of the downward impulse wave from February.

Sugar is likely to rise further toward the next resistance level 13.5 (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: SUGUSD

Recent Posts

The third day of Crypto cooling off

The crypto market has continued to cool down for the third day, with a 1.7%…

37 mins ago

GBPUSD Wave Analysis 14 November 2024

- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…

15 hours ago

USDCAD Wave Analysis 14 November 2024

- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…

15 hours ago

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

17 hours ago

Crypto: Tug-of-war at new altitude

Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…

18 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

2 days ago

This website uses cookies