The trend for this pair is still bullish. However there has been some consolidation of price recently
Mexico will release news on interest rate decision on Thursday . Economic calendar
USD has remained strong over Peso, the trend is bullish with price far above 200EMA. The trendline will likely act as support when price approaches it.
Price is seen to be consolidating in a form of triangle. 21 and 55 MA suggest that the speed of the market is very strong to upside. The opportunity is to buy a breakout to the upside.
On a lower time frame, price is approaching the end of triangle, a breakout is eminent. One needs to wait for a breakout and buy the retracement thereof .
You must be logged in to post a comment.
Enter the destination URL
Or link to existing content