Despite I have long been waiting for a change in trend, today´s movement seems to indicate that we are bottoming in the short term.
Take a look at the daily chart and we are at support level (based on the 1 year trend channel) and on the monthly chart, despite stochastic having divergence, MACD does not, but for the long term we would need to have it. Clear and simple.
So my guess is that today, during the debate, USD/MXN could start seeing north. Even if it goes to next support line (@18.18), it will not last. Using socionomics, @ 19.20 there was no news, no event, that showed panic, so I am still waiting for a new high, most likely as we approach the USA Presidential Election.
Have a nice and comfortable trade.
Take a look at the daily chart and we are at support level (based on the 1 year trend channel) and on the monthly chart, despite stochastic having divergence, MACD does not, but for the long term we would need to have it. Clear and simple.
So my guess is that today, during the debate, USD/MXN could start seeing north. Even if it goes to next support line (@18.18), it will not last. Using socionomics, @ 19.20 there was no news, no event, that showed panic, so I am still waiting for a new high, most likely as we approach the USA Presidential Election.
Have a nice and comfortable trade.