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Wave Tech Analysis

FxPro Forex Analysis: Soy Wave Analysis – 12 September , 2018

• Soy reversed from resistance area
• Further losses are likely

Soy recently reversed down from the resistance area lying between the key resistance level 845.00 (former support from August) and the 38.2% Fibonacci correction of the previous short-term ABC correction B from the end of July.

The downward reversal from this resistance area stopped the previous short-term impulse wave C from last month – which belongs to the ABC correction (B) from July.

Soy is expected to fall further and retest the next strong support level 810.00 (low of the daily Triangle from July).

SOYUSD - Primary Analysis - Sep-12 1307 PM (1 day)