Hello traders:
Liking the price action on USDMXN for a reversal price action from the bottom.
WE can see overall price action is in this larger, HTF channel structure.
Price is corrective in nature within the channel, and finally we see some reversal price action at the bottom.
Latest price gives us a recent double bottoms, descending channel at the bottom...
Monthly:
-Price is at the 78.6% of the monthly fib.
-Price is retesting a previous resistance that now could be acting as support.
Weekly:
-We could see a retest of the broken structure (IC)
Daily:
-Price is forming an inverse H&S pattern and also a bullish M.
4H:
-Bullish M.
-Trend line to protect the price.
Por la pandemia el dolar subio 40% con respecto al peso Mexicano sin embargo el dolar esta bajando, posiblemente bajara hasta 18.90 en Abril y se mantendra hasta diciembre del 2021
- Buying area identified at 20.0000. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 20.2000 within the next period.
The Peso experienced a long period of depreciation. It's time to welcome Joe biden, liberate the MXN and support exports.
I draw your attention to this wonderful buying signal.
The golden point in all its majesty !
