XMRUSD has been in major corrective waves since early 2018. It is now touching a major support level.
Daily chart:
RSI and stochastic oscillators are oversold
MACD is losing momentum
Approaching 0.786 fib retracement for the rally from August 2017 to December 2017
Elliot impulse waves 1-5 and correction waves are complete
Ready for new waves up
First target range: $200-210
Second target: $260
I expect the first corrective Elliot wave to move from $260 to $210
Let's see what happens
Daily chart:
RSI and stochastic oscillators are oversold
MACD is losing momentum
Approaching 0.786 fib retracement for the rally from August 2017 to December 2017
Elliot impulse waves 1-5 and correction waves are complete
Ready for new waves up
First target range: $200-210
Second target: $260
I expect the first corrective Elliot wave to move from $260 to $210
Let's see what happens