September 17, 2020 at 03:50PM
• MGM reversed from resistance zone
• Likely to fall to 20.55
MGM recently reversed down from the resistance zone located between the key resistance level 24.00 (which has been steadily reversing the price from the start of June) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the previous multi-impulse sequence made up of the impulse waves 3 and (C).
MGM is likely to fall further toward the next support level 20.55 (low of the previous short-term correction 2 from last month).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/mgm-wave-analysis-17-september-2020-20200917/
Selected by fonecable.com
Search Web: MGM Wave Analysis – 17 September, 2020
Recent Posts
- What is FOMO in Trading? Characteristics of a FOMO Trader
- Analysis-In Japan, a weaker yen may not be the blessing it once was
- 10 Trading Mistakes to Avoid in Forex Trading
- The Psychology of Speculation in the Forex Market
- The New York Session: Forex Trading Tips
