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FxPro Forex Analysis: Corn Wave Analysis – 27 July , 2018

• Corn broke resistance area
• Further gains are likely

Corn recently broke through the resistance area lying between the key resistance level 360.00 (which has been reversing the price from the end of June) and the 50% Fibonacci correction of the previous downward impulse form June.

The breakout of this resistance area continues the active medium-term impulse wave (3) of the long-term impulse wave ③.

Corn is likely to re-test the next resistance level 370.00 (former support from March and the target for the completion of the active wave (3)).

CORUSD - Primary Analysis - Jul-27 1701 PM (1 day)


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