GBPMXN Continues the Uptrend
September 29, 2020
LTCUSD Testing Resistance at 45.75
September 29, 2020
EURMXN CHART PRICE – EURMXN DAILY
The euro has been in an uptrend for the last 4 trading sessions, this uptrend started on september 18th however there was one bad trading day for the euro, but it managed to recover pretty fast, the price currently broke the resistance level at 26.25 and it looks like it could have more gains in the next sessions since the relative strength index is at 62%, it might be a bit risky because the resistance can be tested and then the price could drop, but the euro and the pound have had a strong positive correlation for the last month, we have big confidence on the pound and this is why we share this confidence with the euro as well, the bollinger bands are getting very wide on the edges, meaning that there should be high volatility in the markets for this pair.
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.
