EURUSD Is Ready to Change Direction, Prepare to Short
July 20, 2020
ETH Breaks Resistance Level At 242.85
July 21, 2020
USDMXN CHART PRICE – USDMXN DAILY
For the third trading session in a row the USD has lost ground to the Mexican peso, on Sunday session it was trading for 22.71 at some point, right now is at 22.29 which is a big loss, more than 4,000 pips, since the price is under the Ichimoku cloud and it is trading very close to its resistance level of 22.16651 we predict that the price will continue to drop, it might not reach the support before it starts its uptrend which is why we have to monitor the RSI levels in order to know when to place a trade, the Bollinger bands are opening up meaning we can expect volatility in the next hours, Relative Strenght Index is at 44%, it could continue to fall with the price, you could either place a short trade now and set TP close to the support level, then wait for the price to settle and if the conditions are met, we could potentially place a long trade after USDMXN comes closer to its support.
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.
