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FxPro Forex Analysis: Sugar (SUG) Wave Analysis – June 1, 2018

• Sugar broke resistance zone
• Likely to rise further

Sugar continues to rise inside the impulse wave C, which previously broke through the resistance zone lying between the key resistance level 0.125 (which reversed earlier waves (iv) and (i)), 100-day moving average and the 50% Fibonacci correction of the previous downward impulse from February.

The breakout of this resistance zone accelerated the active short-term impulse wave C – which belongs to the medium-term ABC correction (B) from April.

Sugar is likely to continue to rise toward the next resistance level 0.1370 (top of the previous correction (ii) and the forecast price for the completion of the active impulse wave C).
SUGUSD - Primary Analysis - Jun-01 1435 PM (1 day)

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