Trip Wave Analysis – 16 July 2025

Trip: ⬇️ Sell

– Trip reversed from resistance area

– Likely to fall to support level 16.00

Trip recently reversed down from the resistance area located at the intersection of the strong resistance level 18.00, upper weekly Bollinger Band and the 38.2% Fibonacci correction of the weekly downtrend from 2024.

The downward reversal from this resistance area stopped the earlier weekly impulse waves i and C.

Given the strength of the resistance level 18.00 and the overbought weekly Stochastic, Trip can be expected to fall to the next support level 16.00.

Source: https://fxpro.news