Categories: Technical analysis

Sugar Wave Analysis 7 October, 2020

• Sugar rising inside impulse wave 3

• Likely to rise to 14.75

Sugar continues to rise inside the accelerated upward impulse wave 3 – which belongs to the intermediate impulse wave (C) from the start of September.

The price earlier broke above the powerful resistance level 13.30 (top of the previous medium-term correction (A)).

Sugar is likely to rise further toward the next resistance level 14.75 (target price for the termination of the active impulse sequence (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.

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Tags: SUGUSD

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