NEOUSD Elliott Wave Analysis TradingLounge Daily Chart

Neo / U.S. Dollar (NEOUSD) Daily Chart Analysis

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Next Higher Degrees Direction: Wave (II) of Impulse

Wave Cancel Invalid Level: 9.85

Details:
Wave (II) appears to have completed, suggesting that prices may resume the upward trend.

Neo / U.S. Dollar (NEOUSD) Trading Strategy:

It seems that the Wave 2 correction has finished, and the price is expected to continue rising. Traders should look for potential entry points to join the Wave 3 uptrend.

Neo / U.S. Dollar (NEOUSD) Technical Indicators:
The price remains below the MA200, indicating a downtrend. Additionally, the Wave Oscillator shows bearish momentum.

NEOUSD Elliott Wave Analysis TradingLounge H4 Chart

Neo / U.S. Dollar (NEOUSD) 4-Hour Chart Analysis

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Double Corrective

Position: Wave Y

Next Higher Degrees Direction: Wave (II) of Impulse

Wave Cancel Invalid Level: 9.85

Details:
Wave (II) is likely to have completed, and prices are expected to continue their upward movement.

Neo / U.S. Dollar (NEOUSD) Trading Strategy:

The Wave 2 correction seems to have concluded, and the price is still anticipated to move higher. Traders should be on the lookout for opportunities to join the Wave 3 uptrend.

Neo / U.S. Dollar (NEOUSD) Technical Indicators:
The price is trading below the MA200, signifying a downtrend. The Wave Oscillator indicates bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

Source: visit Tradinglounge.com and learn From the Experts Join TradingLounge Here 

See Previous: Binance / U.S. Dollar (BNBUSD) Elliott Wave Technical Analysis

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