InvestingScope
Long

USDMXN: Buy opportunity long term.

FX_IDC:USDMXN   U.S. Dollar / Mexican Peso
The pair has just reached the 18.75000 1M Support which has been holding since mid-October 2018. Investors use this as a long term buy entry within this nearly 2 year 1M Descending Triangle pattern.

The 1D chart may be bearish ( RSI = 37.141, MACD = -0.094, Highs/Lows = -0.0419, ADX = 42.106) but there is a certain feature (besides the 1M Support) that indicates the trend may be reversing. That is the RSI which is on a Bullish Divergence (i.e. on a bullish trend despite the fact that the actual price is bearish ). Since 2018 whenever the 1D RSI was on a Bullish Divergence , USDMXN started an uptrend. We are using this opportunity to buy for the long term with 19.500 - 19.650 as our Target Zone.






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