GBPMXN About to Reach Resistance Level
June 4, 2020
MXN Hits Our Target Level
June 8, 2020
EURMXN CHART – EURMXN DAILY
Euro has found resistance at the 0.382 Fibonacci Retracement level, we could expect the price to start dropping after 2 days of gains, RSI level is at 43% which means that the pair is not oversold, we could see this as a good opportunity to place a trade, however I would wait a few hours to make sure the downtrend is confirmed, once the european markets reopen tonight we will see what happens, if the price were to break the resistance that would change the analysis, so keep an eye on that level.
Moving Averages have not crossed since May 20th, this is a good indicator that the downtrend could continue.
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.
