EURMXN Finds Resistance at 24.8855
June 4, 2020
Bitcoin Recovers Ground Against USD
June 8, 2020
USDMXN CHART PRICE – USDMXN DAILY
The Mexican peso finally hit our target level of 21.48445 now I would wait for it to hit the resistance at 21.31401 to see if we have a breakout or of the resistance holds the price and bounces back, RSI level is under 30% which indicates the pair is oversold, I would not be surprised if the price did not touch the resistance before coming back up to 22.166 levels, although other indicators point that the downtrend will continue, price is trading under the Ichimoku cloud, Moving averages spreading apart in a downtrend, and wide bollinger bands. I would be very cautious before placing a long term trade, I will await for confirmation in the next few days before trading USDMXN right now.
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.
