USD/MXN has been in a well-defined downtrend since the beginning of 2025, when we identified a major top formation. The pair has since developed a clear five-wave impulsive decline, characterized by consistent lower highs and lower swing lows — confirming strong bearish momentum.
Recently, we observed the completion of wave 5, marking the end of wave A within a larger corrective structure. Following that low, price has staged a sharp recovery and broken back above the descending channel resistance, signaling a potential shift in momentum.
This breakout suggests that wave B of a higher-degree ABC corrective pattern is now underway. If this scenario unfolds as expected, the recovery could extend toward the 18.77 resistance area. Since corrective waves often develop in complex formations, this upward move may take time and unfold in multiple internal swings before completion.
Key Level to Watch:
Resistance: 18.77
Structure: ABC corrective recovery (wave B in progress)
Recently, we observed the completion of wave 5, marking the end of wave A within a larger corrective structure. Following that low, price has staged a sharp recovery and broken back above the descending channel resistance, signaling a potential shift in momentum.
This breakout suggests that wave B of a higher-degree ABC corrective pattern is now underway. If this scenario unfolds as expected, the recovery could extend toward the 18.77 resistance area. Since corrective waves often develop in complex formations, this upward move may take time and unfold in multiple internal swings before completion.
Key Level to Watch:
Resistance: 18.77
Structure: ABC corrective recovery (wave B in progress)
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Join the community for one week, full access. Its free >> @ wavetraders.com/elliott-wave-plans/
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
👉 bit.ly/3FVPVzO
Learn Elliott Waves Sale-65%
👉 wavetraders.com/academy/
Newsletter
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.