Forex

Elliott Wave Analysis: EURUSD, USDMXN and CADJPYMar 18, 2022

Hello traders.

In today’s video we will look at USDMXN, CADJPY and EURUSD charts under an Elliott wave analysis.

I think that EURUSD rallied based on buy the rumor sell the news impact this week following FED’s decision, and that trend can be back to bearish mode because of situation in Ukraine.

CADJPY is breaking out of a big triangle with room for more strength due to BOJ policy outlook. Pattern is also incomplete.

One of the most attractive currencies next week can also be MXN after strong CPI figures back on March 08, so there can be hawkish policy decision on March 24 from Bank of Mexico. We see some important evidences for a resumption lower.

Have a nice weekend.

Grega

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