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albert.callisto

USDMXN - Potential long trade after consolidation period

Long
U.S. Dollar / Mexican Peso (FX:USDMXN)  
albert.callisto Updated   
FX:USDMXN   U.S. Dollar / Mexican Peso
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USDMXN is currently bullish in the H4 chart. Lagging span must nonetheless manage to get out of a consolidation area where it is stuck since new year. When the break occurs, a long trade could be triggered. First TP based upon Fibo level 2.618. An optimistic price for an auxiliary TP could be the projection of the current upstair against the upper bound of the channel where it has been evolving since 2014. This second TP is at level 19.18.
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