Market Analysis for May 15th, 2018

USDMXN: 20.014 region is about to be reached and I am leaning to the 3rd wave count for the forming high. It means that most likely we are going to get a corrective pullback matching wave 4 before a rally to 20.47 region.

Over 18.98 support region this scenario prevails.

BaseCase - MXN - 4 hr - 15-05-2018 - 1
BaseCase - MXN - 4 hr - 15-05-2018 - 1
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.