Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!
USD/MXN is trying to recover
2019-11-11 • Updated
BUY 19.51; TP 19.6670; SL 19.45
BUY 19.6150; TP1 19.6670; TP2 19.73; SL 19.59
USD/MXN was supported by the 50-week MA around 19.38 and the 100-day MA at 19.33. The pair also went above the 50-day MA (now at 19.52). On the H4, we see a series of higher highs and lows. This may mean that USD/MXN has found a short-term base and may test resistance at 19.67 (38.2% Fibo of the August-September decline and the 200-period MA on the H4). The next level to watch on the upside will be at 19.78 (50% Fibo). Support lies at 19.5095 and 19.4500 (MAs on the H4).
It was an intense week across all the markets! We saw decent movements of major pairs, gas, stock indices, and oil prices. What should we trade this week? Time to check!
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