USDMXN In A Three Wave Consolidation; Possible Reversal Around The 19.00/19.145


On the USDMXN intraday chart we are looking at a possible three wave retracement taking place, with price now specifically trading in the final leg C-circled. We believe this wave C may find a support and a turning point higher around the 50 or 61.8 Fibonacci ratio and later breach above the blue wave B swing.




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Gregor Horvat first made his name in Slovenia and has become world famous in the forex market since 2003. He is both a trader and a technical analyst who offers trading strategies on the Fibonacci and Elliot Wave principle. His main focus is on currency pairs, U.S. stock market, gold and oil. Gregor Horvat found the forex service offered on This website provides traders technical analysis, while putting emphasis on behavioral patterns. These are derived from the Elliott Wave Principle (EWP). Traders who are interested in the entry and exit positions, and he probability of the former and latter follow the EWP on a regular basis.