Elliott wave Analysis: Bears Taking Over USDMXN

Hi traders,

USDMXN is trading in an impulsive bearish manner and there can be room for more weakness towards 18.60 area, because we still see an unfinished five-wave drop. So, currently price just slowed down, probably in wave »iv« that can find resistance at that base channel support line, where bears may show up again for the final wave »v« of 5.

USDMXN, 1h

USDMXN

 


 

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