GibbsGibbleton
Long

Start of Bullish Trend or Short brake for USD

OANDA:USDMXN   U.S. Dollar / Mexican Peso
The general trend for MXNUSD has been bearish .

I initially forecasted a target of 18.50 or lower but the market has set 18.54 as a strong floor which has broken much of the downwards momentum.

We are starting to see a recovery since the price reached the days low at 18.52 and its beginning to form something of a bullish channel . I would expect the price will continue to respect the key resistance zones but if we don't see any attempt to return to the 18.52 low, I expect a confirmation of the bullish trend soon.
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