EURMXN Close To Support Level at 25.18

EURMXN CHART PRICE – ETHMXN DAILY

The euro broke the support level in previous sessions but it bounced to the resistance at 25.51 the next session, only to lose that ground the following trading day, it currently is at 25.25 and it looks like the support could be broken again soon, the bollinger bands are wide and we can expect volatility, particularly during the active european session, the relative strength index is at 44% which means that the price still has potential to go down, the Ichimoku cloud is way above the current price and it indicates that a downtrend should continue, however there are other political fundamental factors that could affect the price, lets not rely only in the technical factors, although we only consider those for our predictions you should stay informed on news events and political events and gather all the possible information to make a trading decision.

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.