Monero/ U.S.dollar(XMRUSD) Elliott Wave Technical Analysis 16 January 23

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Elliott Wave Analysis TradingLounge Daily Chart, 16 January 23,  

Monero/ U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis 

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave III

Direction Next higher Degrees: wave (V) of Motive

Details: wave III is usually the same length as 1.618 x Wave I

Wave Cancel invalid Level: 1073

Monero/U.S. dollar (XMRUSD) Trading Strategy: Monero recovered well from the 116.07 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency towards the price target at the level of 241.271.

Monero/U.S. dollar (XMRUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish

TradingLounge Analyst: Kittiampon Somboonsod

 

 

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 16 January 23,  

Monero/ U.S.dollar(XMRUSD)

XMRUSD Elliott Wave Technical Analysis

Function: Follow trend

Mode: Motive

Structure: Impulse

Position: Wave 3

Direction Next higher Degrees: Wave 3 of Motive

Details: Wave(3) is always 1.618 x Wave(1) length. 

Wave Cancel invalid Level: 116

Monero/ U.S.dollar(XMRUSD) Trading Strategy: Monero recovered well from the 116.07 level and could break the MA200 as a signal of weakening of the downtrend. As a result, the trend may change to an uptrend. And there is a tendency towards the price target at the level of 185.460 or higher

Monero/ U.S.dollar(XMRUSD) Technical Indicators: The price is above the MA200 MA50, indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish.