Technical:
USD/MXN broke out of a massive symmetrical triangle today and is retesting the top for confirmation....The Ichi cloud is providing support (not shown here in order to not make the chart too busy....run it yourself and see).
Fundamental:
With the debacle in oil prices today (WTI may futures contracts traded for negative $37, yes, negative, adn June contracts slid $4 to $20 a barrel) USD/MXN is set to soar! We are in price discovery mode right now with very little resistance overhead and no price history above $25.78. This has the potential for huge returns
USD/MXN broke out of a massive symmetrical triangle today and is retesting the top for confirmation....The Ichi cloud is providing support (not shown here in order to not make the chart too busy....run it yourself and see).
Fundamental:
With the debacle in oil prices today (WTI may futures contracts traded for negative $37, yes, negative, adn June contracts slid $4 to $20 a barrel) USD/MXN is set to soar! We are in price discovery mode right now with very little resistance overhead and no price history above $25.78. This has the potential for huge returns