Categories: Technical analysis

Sugar Wave Analysis – 24 April, 2020

  • Sugar broke key support level 10.00
  • Likely to fall to 9.50

Sugar recently broke the key support level 10.00 (which stopped the previous sharp downward impulse waves in March and earlier this month)

The breakout of the support level 10.00 strengthened the bearish pressure on this currency pair – accelerating the active minor impulse wave (iii).

Sugar is expected to fall further in the active impulse waves 3 and (3) toward the next support level 9.50 (former support from March).

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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The FxPro Tech Analysis Team
Tags: SUGUSD

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