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.
All investment comes with risk. Trade at your own risk. Open to ideas and sharing from all passionate traders, please comment and share your ideas and views. Thank you!
this is my view on EURMXN. What we see now is a higher low at 20.10 what give us a good idea to go long.
So we can trade swing with a target over the last higher high with small risk.
I´m at this trade since 20.12 and will hold it over weeks to the target, my SL is tight at 20.08.
I hope it helps somebody to catch some profit out of the market.
This is the daily. Diagonal seems to be in a wave 5 position of a "C" wave. Emex seems to be holding at the 27% extension of first wave (high came off the 1.382 trend fib extension). Both Umex and Emex are showing "B" wave corrective structure. And I would not be surprised to this diagonal double top (See USOIL). It broke bottom trend line and pulled slightly back...