My beloved Mexican peso finally found a resistance that could not cross and that is important because is a historical peak of September 2016. Having stopped there makes it appear that it is forming an "ABC" which would return the price to $ 16 pesos per dollar. Amazing!!
If this resistance were crossed, the price would be free to reach $ 20/21 pesos per dollar. Holly smokes!!!
The chart I show is weekly because my intention is to have a long-term framework of what will be the main trend of the price. Let's not forget that 2018 is the year of presidential elections in the country (Mexico) and that will undoubtedly be a factor to be taken into account in the peso / dollar pair...
We will see what this 2018 brings to Mexico, without a doubt the price of the dollar is an important issue.
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A closer view of what we have ahead
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Close to the area of 18.5 This point is a very strong and important support. an area that will undoubtedly be difficult to cross. Even so, and reinforced by new analysts, my target remains the same, having a small revision point in the area of 17.20.
Seeing a 16 at the end of the year will not be a surprise for me.
I think that 16 might be here in a month. Unique high volume strength in the afterhours. A sign of things to come for your beloved Peso. Thank you again for preparing me!!!
normstock
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@Bo, It is still a long way, however it is correct April (10) will give me important information. Being honest the shot is more towards June (18) and 17.20
I plan that this chart be valid for 6 months, it was a long shot.
we'll see if it was an accurate shot or just a good try.
Thanks for your kind comments.
Bo
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Outstanding work, an honor to behold the Sensei Peso Master!!!