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.

You trade different markets, want to learn and be on track with trend analysis? Find out what we have to offer, and Test Our Services For 14 Days For Only 1.


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.

Disclosure: Please be informed that information we provide is NOT atrading recommendation or investment advice. All our work is for educational purposes only.