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MACD indicates that momentum is improving, but it remains in bearish territory. I expect the histogram as well as moving average to approach the centerline during the expected move higher. RSI is trading in territory and a breakout should initiate the rally.Current Level 18.83 I expect the pair to be trading near 18.31 towards the end of the forecast period which will conclude on the 1st of May, 12:00 GMT Ideally, the pair will follow the expected price path as outlined on the charts.
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USDMXN
MACD indicates that momentum is improving, but it remains in Bullish territory. I expect the histogram as well as moving average to approach the centerline during the expected move higher. RSI is trading in territory and a breakout should initiate the rally.Current Level 20.6923 I expect the pair to be trading near 19.6100 towards the end of the forecast period which will conclude on the 2nd of January, 12:00 GMT Ideally, the pair will follow the expected price path as outlined on the charts.
USD/MXN
Charts: DAY ONE, The USD/MXN has rallied strongly as visible in this daily chart (D1). This currency pair has formed a rising wedge formation which is a reversal pattern and marked by red lines in the above chart. We expect the USD/MXN to correct back down into its horizontal support zone which is marked in blue.
The current horizontal support zone is a very important one as it used to be a strong resistance zone and heavy trading around those levels should be expected.Indicators: MACD RSIMACD s…
The current horizontal support zone is a very important one as it used to be a strong resistance zone and heavy trading around those levels should be expected.Indicators: MACD RSIMACD s…
USD/MXN DOWN TREND
Charts: DAY ONE, The USD/MXN has rallied strongly as visible in this daily chart (D1). This currency pair has formed a rising wedge formation which is a reversal pattern and marked by red lines in the above chart. We expect the USD/MXN to correct back down into its horizontal support zone which is marked in blue. The current horizontal support zone is a very important one as it used to be a strong resistance zone and heavy trading around those levels should be expected.Indicators: MACD RSIMACD s…
USD/MXN UP TREND
Charts: 1 DAY ,
The USD/MXN has corrected sharply after trading inside its horizontal as visible in this daily
chart (D1). This currency pair is now trading inside its horizontal
support level which is marked in blue in the above chart. We expect the
USD/MXN to rally higher and back into its horizontal resistance zone
which is marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
The USD/MXN has corrected sharply after trading inside its horizontal as visible in this daily
chart (D1). This currency pair is now trading inside its horizontal
support level which is marked in blue in the above chart. We expect the
USD/MXN to rally higher and back into its horizontal resistance zone
which is marked in red.
Indicators: MACD RSI
MACD indicates that momentum is improving, but it remains in bearish
territory. We expect the histogram as well as moving average to a…
USDMXN Going down
The USDMXN has rallied as visible in this daily chart (D1). This currency pair has formed a bullish price channel, but is currently trading at the top of its formation and due for a correction. I expect the USDMXN to top out and correct back down to its support zone which is marked by the light blue box in the above chart.
MACD has formed a negative divergence which is a bearish sign as momentum does not confirm the higher highs set by price action above. RSI is trading in overbought territory n…
MACD has formed a negative divergence which is a bearish sign as momentum does not confirm the higher highs set by price action above. RSI is trading in overbought territory n…