There is a bearish Elliott Wave formation on the lower timeframe charts. The market can now break lower if the 80.00 level breaks to the downside. XMR/USD 1-Hour Chart If you like Elliott Wave it looks like we could have seen a top in Monero. The price has put together a 5 wave structure to the downside. Now the XMR/USD price has moved into a consolidation pattern. If the pattern breaks lower and goes through the 80.00 level then this could be confirmation. What is interesting is that the wave 3 down is a 5 wave pattern on the 15 minute timeframe confirming the structure. A longer term downside target could be 71.80 which is a decent level on the higher timeframes. Additional Levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. Crypto News share Read Next AUD/USD muted on FOMC, but on the back foot as we head towards key unemployment data event FX Street 2 years There is a bearish Elliott Wave formation on the lower timeframe charts. The market can now break lower if the 80.00 level breaks to the downside. XMR/USD 1-Hour Chart If you like Elliott Wave it looks like we could have seen a top in Monero. The price has put together a 5 wave structure to the downside. Now the XMR/USD price has moved into a consolidation pattern. If the pattern breaks lower and goes through the 80.00 level then this could be confirmation. What is interesting is that the wave 3 down is a 5 wave pattern on the 15… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
