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Elliott Wave Analysis TradingLounge Daily Chart

DOT/ U.S. dollar

DOTUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

position: Wave V

Direction Next higher Degrees: wave (C)

Wave Cancel invalid level:

Details: The five-wave falling in wave V.

DOT/ U.S. dollar(DOTUSD)Trading Strategy:
Five wave V retracement, the final wave of wave C before resuming the uptrend. We expect the price to drop to test the 2.227 level. So the overall picture is still a short-term decline before resuming the uptrend.

DOT/ U.S. dollar(DOTUSD)Technical Indicators:
The price is below the MA200 indicating a downtrend. The Wave Oscillator is a Bearish Momentum.

Elliott Wave Analysis TradingLounge 4hr Chart

DOT/ U.S. dollar

DOTUSD Elliott Wave Technical Analysis

Function: Follow Trend

Mode: Motive

Structure: Impulse

position: Wave V

Direction Next higher Degrees: wave (C)

Wave Cancel invalid level: 

Details: The five-wave falling in wave V.

DOT/ U.S. dollar(DOTUSD)Trading Strategy:
Five wave V retracement, the final wave of wave C before resuming the uptrend. We expect the price to drop to test the 2.227 level. So the overall picture is still a short-term decline before resuming the uptrend.

DOT/ U.S. dollar(DOTUSD)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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