Don’t be tricked by the apparent double top formation before…
Quick Technical Analyses trading pair USDMXN
First Point theres a Hidden Divergence between price and the RSI (Green Lines)
This is a Bullish Trend
Second, ascending wedge is forming, another bullish pattern.
Only Bearish pattern is the the double tops, which was my first thought going into the trade. My price target for next week is 24.5 pesos if the bullish trends continues. Personally I was hoping for a double top but i'm not so sure anymore.
First Point theres a Hidden Divergence between price and the RSI (Green Lines)
This is a Bullish Trend
Second, ascending wedge is forming, another bullish pattern.
Only Bearish pattern is the the double tops, which was my first thought going into the trade. My price target for next week is 24.5 pesos if the bullish trends continues. Personally I was hoping for a double top but i'm not so sure anymore.