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Elliott Wave Analysis TradingLounge Daily Chart

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction Next higher Degrees: Wave (II) of Impulse

Wave Cancel invalid Level: 9.85

Details: Wave (II) is likely to have ended and prices are resuming the uptrend.

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
It looks like the wave (II) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (III) uptrend.

NEO/ U.S. dollar(NEOUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge H4 Chart

NEO/ U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Zigzag

Position: Wave C

Direction Next higher Degrees: Wave (2) of Impulse

Wave Cancel invalid Level: 9.85

Details: Wave (II) is likely to have ended and prices are resuming the uptrend.

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
It looks like the wave (2) correction is complete and the price is still likely to move up. Look for an opportunity to join the wave (3) uptrend.

NEO/ U.S. dollar(NEOUSD)Technical Indicators:
The price is above the MA200 indicating an uptrend. The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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