MXN Gains Terrain Against USD

USDMXN CHART PRICE – USDMXN DAILY

Mexican Peso is getting stronger, for the 6th consecutive day MXN closed with gains against the USD, price almost reached our Target Price of 21.48445 yesterday but bounced back up a few pips to start the trading day at 21.7675 at the reopening of the session, however once again  today is has gained some ground against USD, moving averages are getting wider as the price continues to drop, bollinger bands are even wider and price is still below Ichimoki Cloud, RSI is now below 30% currently sitting at 29.4% we need to keep an eye on the RSI levels, cause it is now considered oversold, even with RSI below 30% I believe that the price will reach its Target Price of 21.48.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.