OmiseGO is nearing strong 1.0 support area

Gregor Horvat Wavetraders

OmiseGO with ticker OMGUSD is bearish or sideways for the last two years, but it can be now finishing a bigger A-B-C irregular/expanded flat correction in wave (2), where we are tracking final stages of wave C.

As you can see, wave C has a clear five-wave drop and it’s already trading in final stages wave »v« of C that can be completed by a five-wave cycle of the lower degree. So, OMGUSD will ideally stop around 1.0 level or sligthly lower, but it’s strongly recommended to wait for sharp or impulsive recovery to confirm support in place and bullish reversal.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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