USDMXN Closes the Week With Gains

USDMXN CHART PRICE – USDMXN DAILY

The US dollar gained some ground against the Mexican peso on the last two trading days of the week, this started after almost touching the support level at 22.16 we believe that at this point the price could start climbing on Sunday session. The Relative Strength Index went up from 43 to 48% indicating that more traders are taking long positions, if this level continues to go up then we would place a long position on this pair, the Bollinger bands are wide which indicates that we could expect volatility in the reopening of the session, wait until markets reopen to place a trade as we don’t recommend holding positions over the weekend, exotic pairs normally reopen with a gap and it could go either way. Price is currently under the Ichimoku cloud and about to be inside the cloud, this could mean that a trend change is coming.

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.