Elliott wave Intra-day Updates: BTCUSD, Gold and Usdmxn
Gregor Horvat of Elliott Wave Financial Service - InsideFutures.com - Wed Nov 22, 4:47AM CST

Good day traders! Today, let's look at USDMXN, gold and BTCUSD. Let's start.

USDMXN is dropping, still in wave C) of 4, which can see support and a turning point higher around the Fibonacci ratios of 38.2 or 161.8. A rally in five waves would suggest more upside to follow into wave 5.

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USDMXN, 4H

usdmxn, 1h,

Gold is trading in a three-wave drop as part of wave d of a bigger elliott wave triangle correction. We currently see sub-wave b) in progress, that can search for resistance near the Fibonacci ratios of 50.0 or 61.8 and there make a reversal lower into final wave c) of d.

Gold, 1H

gold, intra..

BTCUSD is trading higher, unfolding a bigger bullish impulse with a clear structure. Currently we see price trading in a correction of wave 4, that has a possibility of becoming more complex, like a EW triangle correction. However, a break above the current swing high of wave 3 would suggest a completed wave 4 correction and wave 5 to be in progress towards the Fibonacci projection zone of 261.8.

BTCUSD, 1H

btcusd, 1h.

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