Mexican Peso Gets Stronger

USDMXN CHART PRICE – USDMXN DAILY

USDMXN continues to plunge as the support level had a breakout confirmed by today’s trading candle, we can expect the price to find a support level next in the 21.1373 level RSI is still slightly above 30% technically the pair is not considered oversold yet,  the price could continue to plunge Bollinger Bands are getting wider which indicated the trend should continue, and now the price is trading below the Ichimoku cloud. Target price 21.9875, remember that we suggest traders to use Take Profit  levels at 80% of the support level as it could not reach the support and bounce back. 

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.