USDMXN Could Start Downtrend

USDMXN CHART PRICE – USDMXN DAILY

The Us dollar has been losing a bit of ground against the mexican peso, in the last two trading sessions and since the opening of today’s session it lost almost 1,175 pips, we see that the Relative Strength Index is dropping below 50% which could be a good opportunity to go short, the price trades below the Ichimoku cloud indicating that a possible downtrend could start and continue perhaps all the way to the support level at 22.17, the bollinger bands are steady which indicate we can expect volatility and also that the shape of the bands indicate that there should not be a change in trend, although is too soon to call it a trend, the price could not reach its support level before making a reversal.

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.