• 2 hours Chinese Investments In the U.S. Plunge 90% Under Trump
  • 5 hours Mining Major Sets Aside $400 Million To Reduce Emissions
  • 7 hours Golden Ice Cream And Spiced Vodka: The Craziest Things Made From Gold
  • 23 hours Can Twitter Sway Economic Policy?
  • 1 day Widespread Power Outages Hit New York City
  • 1 day Equifax To Pay $700 Million To Settle Data Breach Case
  • 1 day Netflix Struggles To Rebound After Subscriber Hit
  • 2 days $15,000 For Your Crypto’s Ticket To Visibility
  • 3 days The Next Fashion Frontier
  • 4 days What Is Africa’s Role In The New Silk Road?
  • 5 days Trump Was Right About The Dollar
  • 5 days Is Silver Gearing Up For A Rally?
  • 5 days World’s Largest Hedge Fund Turns Bullish On Gold
  • 5 days It’s Time To Spend More On Clean Energy R&D
  • 6 days Contrarian Investors Are Beating The Stock Market
  • 6 days Bulgaria’s Revenue Agency Falls Victim To Biggest Cyber Heist In History
  • 6 days Amazon Faces European Union Anti-Trust Probe
  • 6 days Commodities Are Having A Stellar Year
  • 7 days Bezos’ Next Big Project Could Be Worth $100 Billion Per Year
  • 7 days 3,600 Years Later, Climate Change Turns Mammoths Into $40M Market
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

Elliott Wave Analysis: USDMXN Intraday View

USDMXN has five waves down from 21.40 area, wave A that belongs to a bigger and still ongoing retracement. We are tracking wave 4, which can be headed back to 19.50 area after a completed bounce up in current wave B that can see a top near 21.00 later this week. This whole pullback from the high can be wave four as part of an ending diagonal in context of a bigger Elliott Wave cycle.

USDMXN, 4H

USD/MXN 4-Hour Chart

The ending diagonal is a special type of motive wave that occurs primarily in the wave 5 position when price has moved too far and too fast. Some ending diagonal triangles appear in the C wave of an ABC correction. In all cases, the ending diagonal terminates the move of larger patterns. They consist out of five waves, with each having three more sub-waves.

Basic Ending Diagonal Pattern:

Idealized Elliott Wave Basic Ending Diagonal Pattern

 


Interested in our services? Then visit our homepage at www.ew-forecast.com and take a glace at some of our charts. You can even subscribe to our Twitter account -> @ewforecast

 

Back to homepage

Leave a comment

Leave a comment