LTCUSD Market Uncertainty
October 5, 2020
BTCUSD Entering a Small Downtrend
October 6, 2020
GBPMXN CHART PRICE – GBPMXN DAILY
The pound entered a downtrend the last day of September, it has broken 3 support levels so far, and it is heading to breaking a 4th support level, today the price is up 0.12% but with the correlation we see from this pair and the EURMXN pair we could assume that if one breaks the support the other pair would also continue its downtrend, the relative strength index is currently at 42% which gives us the possibility of going short at least for the short term, if the breakout consolidates we would need to be cautious and keep an eye on the RSI in order to know when to close the short position, the bollinger bands are wide and that means high volatility, moving averages indicate a downtrend as well.
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.
