Olymp_Trade

Long positions in USD/MXN

Long
FX:USDMXN   U.S. Dollar / Mexican Peso
After the movement down the US dollar tested the support level 18,8000. Now there is a possibility for a reversal. We will try to analyze the pair from technical and fundamental sides. On 1D TF there is flat on the market (200-EMA is moving sideways). On balance volume indicator dropped down. On working 4H TF Parabolic SAR and OBV reversed. MACD line broke the signal line up. If the pair breaks the trend line up - the first target is 18,96691.Results: if the pair breaks the first target (level 18,96691) - it is possible to think of long positions. The second target is 19,06491.


Fundamental features
The most interesting event at the end of the week is the US Michigan consumer expectations from Michigan university. The forecast is 88,5 (lower than the previous fact). If the actual data is higher – it will give a push to the pair.

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