Categories: Technical analysis

United Technologies Wave Analysis – 20 April, 2020

  • United Technologies reversed from resistance area
  • Likely to fall to 80.00

United Technologies continues to fall inside the medium-term correction (2) which started earlier from the resistance area lying between the key resistance level 100.00 and the 38.2% Fibonacci correction of the previous downward impulse from February.

The active wave (2) belongs to the recently started upward impulse sequence ③ from the middle of March.

United Technologies is expected to fall further toward the next support level 80.00 (likely price for the completion of the active correction (2)).

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: UTX

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