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Elliott Wave Analysis TradingLounge Daily Chart, 16 May 2023.

NEO/U.S. Dollar(NEOUSD)

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 reversal II has a probability of .786 x length Wave I

Wave Cancel invalid Level: 5.96

NEO/U.S. Dollar(NEOUSD) Trading Strategy: There is still a risk of a correction of wave (2), which corresponds to prices below the MA200 line indicating a downtrend. before rising again Wait for the correction to complete.

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

Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 16 May 2023.

NEO/U.S. Dollar(NEOUSD)

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((2)) reversal may have ended at the level of 8.69, a five-wave rise. And breaking the 9.78 level would support this idea.

Wave Cancel invalid Level: 5.96

NEO/U.S. Dollar(NEOUSD) Trading Strategy: we assume that Wave((2)) reversal may have ended at the level of 8.69, a five-wave rise. And breaking the 9.78 level would support this idea. But even so, you will have to wait for the price to cross the MA200 line first.

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

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