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EUR/MXN - Great opportunity.
I took the short from yesterday, as the pattern looked like bear flag as well as descending channel and various other aspects.
For now technical aspects: Below the support of 25.78 the bears could have further control and head towards the next support areas of 25.68 which matches out retracement of Fibonacci 161.8 area.
Above and going out of the channel we will have the bulls getting into control, the resistance areas - 25.89 above that we will have clear direction of bulls next resistance after we will be heading to Fibonacci retracement areas, 0.618 areas.
Do keep in mind, wait for clear break of the key levels and any patterns that may occur!
Remember: Just a trade idea, not a recommendation.
I took the short from yesterday, as the pattern looked like bear flag as well as descending channel and various other aspects.
For now technical aspects: Below the support of 25.78 the bears could have further control and head towards the next support areas of 25.68 which matches out retracement of Fibonacci 161.8 area.
Above and going out of the channel we will have the bulls getting into control, the resistance areas - 25.89 above that we will have clear direction of bulls next resistance after we will be heading to Fibonacci retracement areas, 0.618 areas.
Do keep in mind, wait for clear break of the key levels and any patterns that may occur!
Remember: Just a trade idea, not a recommendation.
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