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 Degree Direction: Wave (II) of Impulse

Wave Cancellation Level: 9.85

Details: Wave (II) appears to have ended, and the price is expected to resume the uptrend.

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

With the completion of Wave (II), the price is likely to continue moving upwards. Traders should look for an opportunity to enter the market in the Wave (III) uptrend.

NEO / U.S. Dollar (NEOUSD) Technical Indicators:

• The price remains below the MA200, which signals a downtrend.

• The Wave Oscillator is indicating 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 Degree Direction: Wave (II) of Impulse

Wave Cancellation Level: 9.85

Details: Wave (II) seems to have concluded, and the price is likely to resume its upward trend.

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

Wave 2 correction is likely complete, and the price is expected to move upward. Traders should consider looking for an opportunity to enter the Wave 3 uptrend.

NEO / U.S. Dollar (NEOUSD) Technical Indicators:

• The price is still trading below the MA200, suggesting a continued downtrend.

• The Wave Oscillator shows Bearish Momentum.

Technical Analyst:  Kittiampon Somboonsod

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

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

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