Wheat today broke through the support area lying between the key support level 510.00 (lower border of the narrow sideways price range inside which the pair has been trading from September) and the support trendline from April.
The breakout of the support area should accelerate the active short-term impulse wave (c) – which is a part of the medium-term ABC correction (2) from August.
Wheat is expected to fall further and re-test the next strong support level 495.00 (which has been steadily reversing the price from the end of August).
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
This website uses cookies
