Let’s have a closer look at the Hourly chart. NEO/USD declined in the past 24 hours and breached the support area at $56.00. It seems like the currency pair has a local bearish correction. What are the possible ways for NEO/USD in the nearest future?
1. Red scenario (bearish). The currency pair will break through the support area at $53.20 and move lower targeting the next support area at $50.24.
2. Orange scenario (neutral). NEO/USD will jump off $53.20 and run higher targeting the closest resistance area at $56.00. There, the price will reverse towards support area.
3. Green scenario (bullish). The currency pair will run towards weekend’s highs at $58.03.
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