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FxPro Forex Analysis: Soy Wave Analysis – 28 August , 2018

• Soy broke support zone
• Further losses are likely

Soy recently broke through the support zone lying at the intersection of the support level 113.00 (which stopped the previous short-term correction (a)) and the support trendline from the middle of July.

The breakout of this support zone accelerated the active short-term impulse wave (c) which belongs to the ABC corrective wave B from the end of July.

Soy is expected to fall further and retest the next support level 810.00 (target price for the completion of the active wave B and the low of the previous wave (A)).

SOYUSD - Primary Analysis - Aug-28 1914 PM (1 day)

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