USD/MXN is at the support line

USD/MXN is at the support line

Trade idea

BUY 19.25; TP 19.38; SL 19.21

USD/MXN has reached the support line which has been limiting its downside since the middle of 2017. The line’s currently supporting it in the 19.07 area. The price action on the D1 is in line with the parameters of the bullish Gartley harmonic pattern. As a result, USD/MXN has a technical capability to get higher. The odds of the bullish scenario will increase if it rises above the 200-day MA at 19.2480. The initial target will be at 19.38 (100-day MA).

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Similar

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

USD/CAD may be capable of more

USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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