USD/MXN Eyeing 17.13/16.00 Area
Gregor Horvat | Sep 06, 2019 04:43AM ET
USD/MXN can be unfolding a big triangle correction that can be a bearish one. Because of a sharp leg A) away from 22.0 highs, we assume price is trading in a bearish triangle of a wave B), which can now be trading near the end. A drop in impulsive fashion, and below the 18.34 area would confirm a completed correction, and more weakness into wave C) of four, towards 17.13/16.00 region.
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