SIGNAL TERMINATION – USD/MXN LONG – TAKE PROFIT
Today, analysts are leaving an upward analysis of 12.10.2020 on the US dollar versus the Mexican peso in a light gain of about 5%. Due to the current situation, it is possible that the direction of the analysis will be reversed.
ORIGINAL TEXT: USD/MXN Long. The US dollar versus the Mexican peso is falling within the current downward trend on the daily charts. Now, the exchange rate is approaching the lower trend support line and from a technical point of view provides an opportunity to try to enter a long analysis on bounce. It is possible to use a limit order for potential entry and thus secure a more interesting price than the current offer on the market. Possible bounce and upward wave should test values above 50% Fibonnacci retracement if supported.
Chart source: WebTrader