EURMEXA lot of the euros look like they are making flags to push up again (eurcad, euraud, eurnzd). EURMEX coming off the 1.236 extension of a potential WXY on weekly. EUR/CHF also.
Eurmex
Eur/Mex Hit .618 retrace, equal length fib extension. Looking to scalp to break even, then let some run to 200Ma on daily.
Eur/Mex Ending DiagonalThis is the daily. Diagonal seems to be in a wave 5 position of a "C" wave. Emex seems to be holding at the 27% extension of first wave (high came off the 1.382 trend fib extension). Both Umex and Emex are showing "B" wave corrective structure. And I would not be surprised to this diagonal double top (See USOIL). It broke bottom trend line and pulled slightly back up. I would wait for (hope for) it to correct up and trade it by sell stop order to catch it on the way down, but that's just me personally. It seems like a "W" count to me. That would mean an "X" wave next (3 wave correction, usually somewhat flat like in this scenario) which can be 50-75% (usually about 62%) retracement of the 3 wave move by the time completed.
