HELLO TRADERS, USDMXN HAS STARTED THE MONTH AT MM3 ON THE DAILY CHART A SELL PIVOT FOR BEARS. SEEING THAT FEBRUARY HAS ENDED, FUNDAMENTALLY WE ALSO COULD SEE SOME MEXICAN PESO STRENGTH AS MEXICANS IN THE STATES SEND MONEY BACK HOME TO THEIR FAMILIES. TECHNICALLY PRICE OPENING AT MM3 AT THE START OF THE MONTH IS A DREAM COME TRUE FOR A BEAR. ALTHOUGH PRICE IS IN A TIGHT RANGE ON THE DAILY CHART, THE H4 CHART SHOWS THAT PRICE IS ALSO CLOSE TO RESISTANCE JUST BELOW WM4. BULLS ARE PROBABLY THINKING OF TAKING PROFITS SOON AND IF PRICE HITS WR2 THAN ACCORDING TO PIVOT POINT THEORY PRICE SHOULD HEAD BACK TO THE CENTRAL PIVOT.

USDMXN DAILY

MARKET IS SIDEWAYS, MOVING AVERAGES ARE FLAT. PRICE OPENED AT MM3 SELL PIVOT. BEARS WILL LOOK FOR SHORT OPPORTUNITIES.

USDMXN H4

MARKET IS SIDEWAYS. PRICE IS AT WM4 WHICH COINCIDES WITH MM3 AND CURRENTLY AT THE TOP OF THE RANGE. STOCHASTICS ALSO FACING SOUTH. BEARS WILL PROBABLY LOOK TO SELL THIS AT RESISTANCE.

USDMXN DAILY POST PLAN

USDMXN H4 POST PLAN

Leave a Reply