USDMXN has been in a well defined uptrend with higher lows and higher highs. We hit a resistance zone around 19.60 which, scrolling back, has also been a flip zone.
From here, we did not make another higher high. In fact, we made what appears to be a double top pattern.
19.42 was the previous higher low swing zone that we were watching for a break. Price tested this zone, before making a lower bounce and then finally breaking and closing this zone with a strong red candle.
I would consider taking profits at 19.25, however we cannot ignore the flip zone around 19.3150. Keep an eye out on how price reacts there.
Also we do have US Non-Farm Payrolls tomorrow which obviously is a major event for the US Dollar.
From here, we did not make another higher high. In fact, we made what appears to be a double top pattern.
19.42 was the previous higher low swing zone that we were watching for a break. Price tested this zone, before making a lower bounce and then finally breaking and closing this zone with a strong red candle.
I would consider taking profits at 19.25, however we cannot ignore the flip zone around 19.3150. Keep an eye out on how price reacts there.
Also we do have US Non-Farm Payrolls tomorrow which obviously is a major event for the US Dollar.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.