NEO/USD Elliott Wave technical analysis [Video]
|NEO/USD Elliott Wave technical analysis
Function: Follow Trend.
Mode: Motive.
Structure: Impulse.
Position: Wave (3).
Direction Next higher Degrees: Wave ((3)) of Impulse.
Wave Cancel invalid Level: 9.85.
Details: Wave (3) is Equal to 161.8% of Wave (1) at 24.52.
NEO/USD trading strategy
NEO is still in an uptrend from Prices remain in the third wave price structure. We expect the price to test the 40.75 level, which is 161.8% of the length of the first wave. So look for opportunities to join the uptrend.
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
NEO/USD Elliott Wave technical analysis
Function: Counter Trend.
Mode: Corrective.
Structure: Zigzag.
Position: Wave (C).
Direction Next higher Degrees: Wave ((2))) of Impulse.
Wave Cancel invalid Level: 9.85.
Details: The Wave ((2)) is equal to 61.8% of Wave ((1)) at 14.24.
NEO/USD trading strategy
NEO is still in an uptrend. But there may be a short-term pullback of the second wave at the level of 14.14 before rising again in the third wave. So wait for the correction to complete to rejoin the trend.
NEO/ U.S. dollar(NEOUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, Wave Oscillator is a bullish Momentum.
NEO/USD Elliott Wave technical analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.