Elliott Wave Analysis TradingLounge Daily Chart, 28 August 23, 

NEO/U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triple Corrective

Position: Wave ((Z))

Direction Next higher Degrees: Wave II of Motive

Wave Cancel invalid Level: 5.96

NEO/U.S. dollar(NEOUSD)Trading Strategy: NEO is still in a downtrend. Since the price remains below the MA200 and MA50 lines, Wave C lacks one more decline to complete the wave, we forecast a retracement level of 1.618 x Wave A(6.41).

NEO/U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, MACD and RSI bearish momentum.

(Click on image to enlarge)

Elliott Wave Analysis TradingLounge 4H Chart, 28 August 23,  

NEO/U.S. dollar(NEOUSD)

NEOUSD Elliott Wave Technical Analysis

Function: Counter Trend

Mode: Corrective

Structure: Triple Corrective

Position: Wave ((Z))

Direction Next higher Degrees: Wave II of Motive

Wave Cancel invalid Level: 5.96

NEO/U.S. dollar(NEOUSD)Trading Strategy: NEO is still in a downtrend. Since the price remains below the MA200 and MA50 lines, Wave C lacks one more decline to complete the wave, we forecast a retracement level of 1.618 x Wave A(6.41).

NEO/U.S. dollar(NEOUSD)Technical Indicators: The price is below the MA200 indicating a Downtrend, MACD and RSI bearish momentum.

(Click on image to enlarge)

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