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LTCUSD With No Trend
October 1, 2020
BTCUSD Undecided
October 2, 2020

USDMXN Breaks the 4th Support Level 

Published by TradersColo at October 2, 2020
Categories
  • forex
Tags
  • chart patterns
  • technical indicators
  • trend analysis
  • usdmxn
usdmxn daily chart

USDMXN CHART PRICE – USDMXN DAILY

 

The US dollar has lost almost all the gains that it made during the week of September 21st, today it broke the 4th consecutive support level from our fibonacci retracement, and its plunging fast, the relative strength index is at 41% and we still see potential for this pair to continue its downtrend, there are fundamental factors involved and we need to take advantage of the current situation in the US economy, the bollinger bands are wide and the price is still closer to the middle of the bands, this tells us that the price is relatively fair for current market conditions.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.

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