MXN Could Break Support
June 19, 2020
GBPMXN Shows Strong Support
June 22, 2020
ETHMXN CHART PRICE – ETHMXN DAILY
During the weekend ETHMXN broke the resistance level we found at $5530.40, this level has been very strong since it has not been broken since February 14th, the pair’s Relative Strength Index is at 62% almost considered overbought, although the price is trading on top of the Ichimoku Cloud I believe that it will be very hard for the price to break it, I would wait to see what the price does in the next few hours to determine if I go short or wait a little longer, keep an eye on RSI level, if it continues to climb make sure you place your Short trade until its above 70%, on the other hand if it starts to decrease that will mean that the market is reacting and closing their trades in this pair, which means that it’s a good time to Sell. Bollinger Bands are currently spreading, this is a good indicator as it usually means we can expect a change in the trend as well as high volatility.
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.
