ETH Losing Ground to USD
July 15, 2020
ETH Struggles Against MXN
July 16, 2020
USDMXN CHART PRICE – USDMXN DAILY
The US dollar had a bad start to the week as it closed with a loss Monday and Tuesday, today it made a small bounce and its currently trading with slight gains, we see that the Relative Strength Index remains almost unchanged, this could indicate that there could be a reversal on the trend, I need to wait for a stronger Buy signal, if the price falls to its support level I would place a long trade as the channel we found looks to be strong, we want to wait because the price might fall a bit before coming back up to resistance levels, I reiterate the importance of the RSI level for me, for me, it dictates the direction of my trades, if we see that this level starts rising, then we would go ahead and place a long trade even if the price does not reach its support level, Bollinger bands are slightly opening, indicating there could be a change of trend in the next hours.
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.
