LTCUSD Tests Support at 62.09
August 20, 2020
USDMXN Confirms a Breakout on Support
August 21, 2020
EURMXN CHART PRICE – EURMXN DAILY
The Euro is having a setback, in the last 3 trading days it has been losing more than 550 pips, we can see the relative strength index dropping to the 44% this could indicate that a downtrend could continue, however I do not see the price reaching its next support level at 24.9 anytime soon since the RSI is already low, once it enters the oversold status we could see the price increasing, the price trades over the Ichimoku cloud and the bollinger bands are slightly opening up so we can expect volatility, the moving averages are getting closer to each other but not enough to make a cross, we are gonna have to wait for this to happen since we use 40 and 20 periods.
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.
