USDMXN Breakout Confirmed

USDMXN PRICE CHART – USDMXN DAILY

After reaching our target level a few days ago, USDMXN had a big comeback, breaking the resistance at 22.16 and rallying all the way up to 22.88010, price is currently trading inside the cloud, we would normally wait for the price to be above or below this cloud but other technical indicators read this as a strong trend.

RSI is currently at 54% it’s a good time to go long on the pair, Yesterdays trading session the breakout was confirmed and we can expect the price to continue its rally all the way to the next resistance level at 24.07, perhaps a little short from that, our target level is 80% at $23.691506 it might take a few days before the price moves all the way up to this level since Bollinger bands are getting narrow, meaning volatility might be low and the price could move sideways. 

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.