Elliott wave Analysis: USDMXN and Crude oil Intra-day Update

Gregor Horvat Wavetraders

Good morning everyone.

The USD fell in the last 24 hours and pushed prices nicely to the downside, through 19.20 support level so it appears that bears can stay in control now, especially if that's wave three of three headed to 19.00.

USDMXN, 1h

Crude oil is definitely helping USD to move lower, since price turned up from wave four and is now in fifth wave that can be underway to 57.00, so more dollar weakness can be seen in todays sessions.

Crude oil, 1h

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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