Elliott Wave Analysis TradingLounge Daily Chart, Tuesday, June 20 

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NEO/U.S. Dollar (NEO-X)

NEOUSD Elliott Wave Technical Analysis

Function: Reactionary (Counter Trend)

Mode: Corrective

Structure: Double Corrective

Position: Wave ((Y))

Direction Next higher Degrees: Wave II of Motive

Details: Wave II may have ended at the level of 6.97. Five waves of rise will support this idea.

Wave Cancel invalid Level: 5.91

NEO/U.S. Dollar (NEOUSD)Trading Strategy: NEO tends to end Wave((2)) at the level of 6.95, which is enough to retrace Wave((2)) but still below the MA200 line making us want to. five-wave movement to support this concept And it could be the start of a new uptrend.

NEO/U.S. Dollar (NEOUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator has a Bearish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, Tuesday, June 20

NEO/U.S. Dollar (NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Reactionary(Counter Trend)

Mode: Follow Trend

Structure: Motive

Position: Wave 2

Direction Next higher Degrees: Wave (1) of Motive

Details: Wave 2 reversal has a probability of .618 x length Wave ((1)).

Wave Cancel invalid Level: 6.95

NEO/U.S. Dollar (NEOUSD)Trading Strategy: NEO tends to end Wave((2)) at the level of 6.95, which is enough to retrace Wave((2)) but still below the MA200 line making us want to. five-wave movement to support this concept And it could be the start of a new uptrend.

NEO/U.S. Dollar (NEOUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, Wave Oscillator has a Bearish momentum.

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