You can see the down green holizontal line, that is the strong and valid support rejection. This means the market hardly closes this line and when it does, you sell only within red prtion or rectangle. only when the bearish candle breaks the line. If the next candle is bullish, do buy within the green rectangle or portion.
The Mexican Peso is now trading above the US Presidential Election key resistance level. Price could soar from here, we can enter longs and add on dips, or average in during a few days to a month. Returns are over 10% at the very least, in the coming 2-3 months.
Negativity against the Peso kept many traders skeptical of this rally, all the way up. This is usually...
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based off of technical analysis my hypothesis is MXNUSD is bullish because the market has reached levels of supply and demand. we are also moving from a swing low to a possible swing high to the upside.Trading off of the bounces and using channel we have created a new level within the market. also we have found support in the areas identified on me TA.
The Mexian Peso is extremly bearish against the Dollar since years.
I do expect a rebound close to the AB=CD completion. Perhaps it will initiate a 38.2 Fib correction of current down swing? Staying flat and wait.
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