A bearish trend could be expected after this SHS pattern in 1W. Support at 21.5x has already been broken. A pullback may happen in next weeks to that level as a resistance or keep going down to 20.0X support directly. This will be a very strong support which I don't think the tick is breaking. Few weeks remaining for confirmation.
This is the weekly chart, probally the definitive point of view to look at
sometimes a picture is worth a thousand words
we are in a triangle that probally would last for a while..
so take a confortable seat to wait this summer o probally the end of the year to see new ATH
Euro seems can't break the 22,00 resistence level.
historically it's the part of the year when Euro normally grows up, but the general situation of Euro zone and the Deutsche Bank crisis makes it very weak.
Let's see if the triangle will be broken up and maybe the USD will grows up carrying on the Euro, or the european currency will breaks down..
EURMXN moving in a wave trend and in an upward trend channel, very good risk and reward ratio of 3.27. Entry at 21.7805 stop loss at 21.64. Target profit at 22.20860.
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