Rejection of trendline means a move South for the Peso
I love trading this pair! It has a technical obedience that most currency pairs don't follow.
A trendline on the daily has formed and with some divergence in play I feel that the triangle pattern formed will be in play for the next few weeks and therefore a retracement to the Fibs identified could be in play. Tight stops above the trendline and targets 1 & 2 to be used.
For more information or trade setups, follow me on here, Twitter or at www.ejfxtrading.com
A trendline on the daily has formed and with some divergence in play I feel that the triangle pattern formed will be in play for the next few weeks and therefore a retracement to the Fibs identified could be in play. Tight stops above the trendline and targets 1 & 2 to be used.
For more information or trade setups, follow me on here, Twitter or at www.ejfxtrading.com