FX:USDMXN   U.S. Dollar / Mexican Peso
74 0 7
The short squeeze in Oil             looks like it's over. The Mexican Peso is highly influenced by the price of Oil             .

On the weekly chart the price stands at value after a huge rally, while the impulse is still red. A blue impulse would be the final confirmation.

Going to the daily chart , I see a few patterns that are worth mentioning. After a bearish divergence back in February, the Mexican Peso gained ground, returning at the last consolidation area on the chart. This is a normal occurrence in uptrends or downtrends. Besides the bigger price action, there is a histogram divergence, a bullish candle, and green impulse, all around a small double bottom with a false breakout.

I would look for 19, with a stop around 17.
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