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Wave Tech Analysis

FxPro Forex Analysis: Cotton Wave Analysis – 30 July , 2018

Cotton broke key resistance level 88.70
• Further gains are likely

Cotton continues to rise after the earlier breakout of the key resistance level 88.70 (which stopped the previous short-term impulse wave (i) at the start of July, as can be seen below).

The breakout of the resistance level 88.70 should accelerate the active short-term impulse wave (iii) – which belongs to the impulse wave 3 from the start of July.

Cotton is likely to continue to rise in the active impulse waves (iiii), 3, (3) and re-test the next resistance level 92.00.

COTUSD - Primary Analysis - Jul-30 1922 PM (1 day)