EURUSD Could End a Winning Streak

EURMXN CHART PRICE – EURMXN DAILY

For the last 5 trading days, EURMXN had been gaining strength but during todays reopening we can see it lost a few pips already, since we can see that the Relative Strength Index is already on an overbought status we are in a good position to place a sell trade, the price has not yet made it to its resistance level and it could be the right time to go short, however we need a confirmation of the downtrend, we recommend traders to monitor the RSI level and place a short trade once the RSI drops a few more points, since other indicators tell us that the uptrend could continue and we are seeing mixed signals, the bollinger bands are getting very wide meaning we can expect high volatility , while the price trades way above the Ichimoku cloud and the RSI is high.

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.