USDMXN Reversal

USDMXN CHART PRICE – USDMXN DAILY

The US dollar made some progress in yesterdays and todays session, with small gains, we found that there could be a new support level at 21.85 this has been the lowest level it reached in the last 55 trading sessions, the relative strength index is at 40% and is forming small uptrend, this could be the point where the price has a reversal to the 22.17 levels,  the bollinger bands are opening up and this could mean a trend change, the moving averages started to get close to each other but not enough to make a cross, and the price trades way below the Ichimoku cloud.

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.