USD/MXN: the clues from the technical picture

Read the article on FBS website

Trade ideas

SELL 18.97; TP 18.90; SL 19.00

BUY 19.20; TP 19.28; SL 19.18

As you look for the technical trade ideas, pay attention to USD/MXN. On D1, the pair formed a bearish “shooting star” candlestick ahead of the resistance line from December high. In addition, the 100-day MA went below the 200-day MA. All this may mean that the pair isn’t just yet ready for a break to the upside. The further recovery is possible above 19.20, although the MAs in the 19.30 area will likely limit the upside.

usdmxn 26.png

FBS Analyst Team

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.