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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 (2) of Impulse

Wave Cancel invalid Level:

Details: the corrective of Wave (2) trend to test 12.366 Level.

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The corrective wave (2) is forming a Zigzag pattern. We are now in the final phase of the decline in wave C to complete the pattern. Wait for wave C to finish before looking for an opportunity to rejoin the uptrend.

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

Elliott Wave Analysis TradingLounge 4hr 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:

Details: the corrective of Wave (2) trend to test 12.366 Level.

NEO/ U.S. dollar(NEOUSD)Trading Strategy:
The corrective wave (2) is forming a Zigzag pattern. We are now in the final phase of the decline in wave C to complete the pattern. Wait for wave C to finish before looking for an opportunity to rejoin the uptrend.

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

Technical Analyst: Kittiampon Somboonsod

Source: Tradinglounge.com

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