October 02, 2020 at 03:31PM
• GPBAUD reversed from support level 1.7900
• Likely to rise to 1.8260
GPBAUD continues to rise after the earlier upward reversal from the support level 1.7900, intersecting with 50% Fibonacci correction of the previous upward impulse wave (1).
If the pair closes today near the current levels it will form the daily Japanese candlesticks reversal pattern Bullish Engulfing.
GPBAUD is likely to rise further toward the next resistance level 1.8260 (which stopped the two previous waves – 4 and (1)).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/gpbaud-wave-analysis-2-october-2020-20201002/
Selected by fonecable.com
Search Web: GPBAUD Wave Analysis 2 October, 2020
Recent Posts
- NEWS: Call to postpone elections as coronavirus cases surge (in Malaysia) October 28, 2020 at 02:29AM
- Dollar Up, but Caution Reigns as U.S. Election Draws Ever Closer
- Dow Jones Falls on Rising Virus Cases, Hang Seng Vulnerable to a Pullback
- NEWS: RBA monetary policy board member Harper says the Bank can ramp up bond purchases indefinitely October 28, 2020 at 01:56AM
- NEWS: Coronavirus vaccine production likely to exceed 16bn doses in 2021 October 28, 2020 at 01:48AM
