The BoJ, if anything, made it's "guidance" even murkier (as if that were anyway possible) with it's most recent policy announcements. E.g., let's just say that the Yen, currently residing just below the miner-frog's hind quarters, has a better chance to start working it's way higher than otherwise. Simultaneously, the Mexican Peso, having just completed a couple...
-Introduction-
USDMXN has arrived at the support area of 19.600 ~ 19.800. This is a strong support level, as we can see many times the price has bounced up from this level. Observing closely in daily chart , we could see that before a bounce from the support area , almost all prices formed a kind of a bullish candlestick pattern. After the bounce, we could spot...
USDMXN - Peso trade idea.
Technical View
Pattern - Triple Bottom
Support - 19.93810, 19.85110, 19.81000
Resistance - 20.09215, 20.21170, 20.31620
50 EMA - key support zone
200 EMA - Key Resistance zone
EM Currency pair - PESO yields had a nice move... We could extend further to 1.618 area!
Key tip: Trade your own trade plan for further confidence
Trade...
