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Elliott Wave Analysis TradingLounge Daily Chart

ADA/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

position: Wave B

Direction Next higher Degrees:

Wave Cancel invalid level:

Details: Short-term: Price will continue to rise in Wave B with target at 1.320.

ADA/ U.S. dollar(ADAUSD)Trading Strategy:

The price will continue to adjust up in Wave B with the target at 1.320. After Wave B is complete, the price is expected to adjust down to Wave C with the target possibly in the 0.703 zone.

Main Outlook:

Short-term: Price will continue to rise to the target of 1.320

Mid-term: Downward correction in Wave C may test the support level of 0.650

Long-term: New uptrend will start when the corrective wave structure is complete.

Elliott Wave Analysis TradingLounge 4hr Chart

ADA/ U.S. dollar(ADAUSD)

ADAUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Flat

position: Wave B

Direction Next higher Degrees:

Wave Cancel invalid level:

Details: Short-term: Price will continue to rise in Wave B with target at 1.320.

ADA/ U.S. dollar(ADAUSD)

The price will continue to adjust up in Wave B with the target at 1.320. After Wave B is complete, the price is expected to adjust down to Wave C with the target possibly in the 0.703 zone.

Main Outlook:

Short-term: Price will continue to rise to the target of 1.320

Mid-term: Downward correction in Wave C may test the support level of 0.650

Long-term: New uptrend will start when the corrective wave structure is complete.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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