Triangle On USD/MXN Points Lower – Elliott Wave Analysis

in #forex4 years ago

USD/MXN is trading slow and choppy in a contracting range, which looks like an ongoing Elliott wave triangle in wave four, so we think that weakness will resume after a-b-c-d-e completed sub-waves. Price can now be in wave d that can look for some temporary support around the lower trendline of the pattern.

For a mid-term perspective we are bearish, and looking beneath June levels.

USD/MXN 4h

(Image not shown due to low ratings)


(Image not shown due to low ratings)

Images were hidden due to low ratings.
Sort:  

Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://www.fxstreet.com/cryptocurrencies/news/neobtc-in-a-bearish-triangle-elliott-wave-analysis-202008061357