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Elliott Wave Analysis TradingLounge Daily Chart, 26 January 2024.

VeChain/U.S. Dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave (A)

Direction Next higher Degrees: wave ((4)) of Impulse

Wave Cancel invalid Level: 0.2100

Details: Wave 4 Usually Throwback between 38.2-50% of wave 3

VeChain/U.S. Dollar(VETUSD)Trading Strategy:

We are looking for a green correction of wave ((4)) which will most likely retrace to 38.2% or 50% of wave ((3)) and a possible end of wave ((4)). Level 0.0250 The five-wave increase from the level 0.0250 supports this idea.

VeChain/U.S. Dollar(VETUSD)Technical Indicators: The price is Above the MA200 indicating an uptrend, Wave Oscillators a bullish Momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

Elliott Wave Analysis TradingLounge 4H Chart, 26 January 2024.

VeChain/U.S. Dollar(VETUSD)

VETUSD Elliott Wave Technical Analysis

Function: Counter trend

Mode: Corrective

Structure: Zigzag

Position: Wave (A)

Direction Next higher Degrees: wave ((4)) of Impulse

Wave Cancel invalid Level: 0.2100

Details: the decline of wave A has a support at wave 4 Previous

VeChain/U.S. Dollar(VETUSD) Trading Strategy:

We are looking for a green correction of wave ((4)) which will most likely retrace to 38.2% or 50% of wave ((3)) and a possible end of wave ((4)). Level 0.0250 The five-wave increase from the level 0.0250 supports this idea..

VeChain/U.S. Dollar(VETUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, Wave Oscillators a bearish Momentum.

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