Elliott wave Analysis: USDMXN Intra-day Update

Gregor Horvat Wavetraders

USDMXN made a clear five-wave recovery up into black wave 3 and also found a temporary top at the 18.9607 level. Currently price is trading lower, ideally making a temporary three-wave decline in wave 4, which may later see support and a bounce around the 18.6630/18.5178 region.

USDMXN, 1h

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.

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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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