We have an over-brought pair here, based on the following:
Over-brought stochastic on the daily timeframe, indicates a slight pull-back could be expected
Divergence printed indicating that RSI and Momentum are ready to see a reversal
Price to retrace ahead of Wednesday's FED decision (which may or may not boost the Dollar)
Oil price is heading further south which is correlated with the mexican peso
I'm looking to enter a small trade towards to price area indicated before Wednesdays FED decision, could be a nice little retrace before testing of tops!
Over-brought stochastic on the daily timeframe, indicates a slight pull-back could be expected
Divergence printed indicating that RSI and Momentum are ready to see a reversal
Price to retrace ahead of Wednesday's FED decision (which may or may not boost the Dollar)
Oil price is heading further south which is correlated with the mexican peso
I'm looking to enter a small trade towards to price area indicated before Wednesdays FED decision, could be a nice little retrace before testing of tops!
Comment:
Sign up to my new website for exciting stuff to come next year: www.ejfxtrading.com