USDMXN Breaks Resistance at 23.01841
June 30, 2020
BTCMXN Could Reach Support Level
July 1, 2020
The Euro has been on a plunge in the last two trading sessions as the MXN gains ground, Yesterday it broke the support level at 25.6326, currently trading at 25.49, the price is about to be under the Ichimoku cloud, if this happens we could expect the price to continue dropping since it could confirm the downtrend. The Relative Strength Index has been falling since June 29th, right now is at 51% and we expect this to continue lowering, if the price starts to move up then the RSI will potentially move up as well, Bollinger Bands are wide enough to expect volatility but not a change in trend. Once the price reaches 25.40 and trades below Ichimoku with a lower RSI level we could potentially place a Sell order on 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.
