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

Direction Next Higher Degrees: Wave (II) of Impulse

Wave Cancel Invalid Level: 9.85

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level

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

Wave Y declines as the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again.

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

• The price is below the MA200 indicating a downtrend.
• The Wave Oscillator shows Bearish Momentum.

NEOUSD Elliott Wave Analysis TradingLounge 4H 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

Direction Next Higher Degrees: Wave (II) of Impulse

Wave Cancel Invalid Level: 9.85

Details: Wave (II) is equal to 61.8% of Wave (I) at 10.71 Level

Wave Y declines as the last wave in the double corrective pattern before prices re-enter the uptrend. We expect that Wave Y may have ended at the 10.30 level, so look for an opportunity to join the uptrend again.

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

• The price is below the MA200 indicating a 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: Ripple/ U.S. Dollar (XRPUSD) Elliott Wave Technical Analysis

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