USDMXN - Descending Triangle
Hi everyone,
After the market rallied during the last week in favor of the US dollar ,
we sold off later in the day making the chart bearish in the short run.
It seems we are forming a descending triangle .
We could go to 18.75 soon, and that could be a break to 18.50, especially if oil price don't fall.
On the other hand, if we go bullish , I expect the prices to go to 19.19 and then to 19.50.
However, as I mentioned, I am more in favor of a downside.
After the market rallied during the last week in favor of the US dollar ,
we sold off later in the day making the chart bearish in the short run.
It seems we are forming a descending triangle .
We could go to 18.75 soon, and that could be a break to 18.50, especially if oil price don't fall.
On the other hand, if we go bullish , I expect the prices to go to 19.19 and then to 19.50.
However, as I mentioned, I am more in favor of a downside.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.