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: Flat

Position: Wave (2)

Direction in Next Higher Degrees: Wave ((2)) of Impulse

Wave Invalidation Level: Not specified

Details: Wave 2 appears to be nearing completion, with price expected to rise as wave 3 begins.

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

The correction phase in wave 2 seems to have ended, indicating a likely continuation of the five-wave rally in wave 3. Price action shows an upward trend, signaling potential re-entry points for trend-following positions.

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

  • Moving Average (MA200): Price remains below the MA200, which suggests a downtrend.
  • Wave Oscillator: Indicates bearish momentum.

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NEOUSD Elliott Wave Analysis - 4-Hour Chart

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

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave (2)

Direction in Next Higher Degrees: Wave ((2)) of Impulse

Wave Invalidation Level: Not specified

Details: Wave 2 appears to be ending, with price anticipated to rise into wave 3.

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

The correction in wave 2 seems to be concluding, setting the stage for the anticipated five-wave advance in wave 3. The upward trend suggests opportunities for re-entry into long positions.

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

  • Moving Average (MA200): Price remains below MA200, indicating a downtrend.
  • Wave Oscillator: Displays bearish momentum.

Technical Analyst:  Kittiampon Somboonsod

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