UNI/ U.S. dollar(UNIUSD) Daily Chart Analysis - TradingLounge
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave (Y)
Next Higher Degree Direction: Wave ((2))
Wave Cancellation Level: Not specified
Details: The corrective phase of Wave 2 is underway, expected to conclude before resuming the upward movement in Wave 3.
UNI/USD Daily Trading Strategy
The price increase from $11.216 to $15.825 formed a three-wave structure, suggesting that the prior bearish trend remains incomplete. The subsequent drop from $15.825 reinforces this corrective outlook. Based on Elliott Wave principles, UNIUSD is projected to decline further and test the $9.31 support level before initiating a bullish Wave 3 rally.
UNI/USD Technical Indicators – Daily Chart
- Moving Average (MA200): Price is above MA200, indicating an uptrend.
- Wave Oscillator: Signals bullish momentum.
UNI/ U.S. dollar(UNIUSD) 4-Hour Chart Analysis - TradingLounge
UNIUSD Elliott Wave Technical Analysis
Function: Counter trend
Mode: Corrective
Structure: Double Corrective
Position: Wave (Y)
Next Higher Degree Direction: Wave ((2))
Wave Cancellation Level: Not specified
Details: Wave 2 correction is ongoing, with an anticipated upward reversal into Wave 3 following the completion of the current structure.
UNI/USD 4-Hour Trading Strategy
The rise from $11.216 to $15.825 developed in a three-wave sequence, further suggesting that the bearish cycle has not concluded. The subsequent decline from $15.825 aligns with this analysis. Short-term, UNIUSD is expected to retest the $9.31 level before beginning its bullish Wave 3 momentum.
UNI/USD Technical Indicators – 4-Hour Chart
- Moving Average (MA200): Price is below MA200, signaling a downtrend.
- Wave Oscillator: Indicates bearish momentum.
Technical Analyst: Kittiampon Somboonsod
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