NEOUSD Elliott Wave Analysis - 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: The analysis indicates that Wave (II) has likely concluded, with prices starting an upward movement.
NEO / U.S. Dollar (NEOUSD) Trading Strategy:
The Wave (II) phase for NEOUSD appears to be ending around the 8.49 level, suggesting a potential resumption of the uptrend. Traders should consider entering the market during short-term pullbacks to align with the emerging uptrend.
NEO / U.S. Dollar (NEOUSD) Technical Indicators:
NEOUSD Elliott Wave Analysis - H4 Chart
NEO / U.S. Dollar (NEOUSD) 4-hour Chart Analysis
NEOUSD 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: Similar to the daily chart, the 4-hour analysis suggests that Wave (II) has likely ended, and an uptrend may be resuming.
NEO / U.S. Dollar (NEOUSD) Trading Strategy:
For short-term traders, completing Wave (II) near the 8.49 level could provide a good opportunity to enter the market. The focus should be on capitalizing on short-term pullbacks to join the anticipated uptrend.
NEO / U.S. Dollar (NEOUSD) Technical Indicators
- Trend Indicator: The current price remains below the MA200, indicating a prevailing downtrend.
- Momentum Indicator: The Wave Oscillator reflects bullish momentum, which may support the expected upward movement.
Technical Analyst: Kittiampon Somboonsod
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