USDMXN Short Opportunity!!! Possible H&S Pattern Forming...
As of now, we can see 2 clear consolidation area from USDMXN. As for the second consolidation which is also the consolidation phase we are in, we can see price level retested the previously broken consolidation area. Not only that, we can also see a nice head and shoulder pattern potentially forming. This lower consolidation did signal to us that bearish movement is not stopping at the moment and what I will be seeing a BEARISH movement till 21.380 support level which is also near 61.8 fibonacci level. This area between the support level and 61.8 fib level will form a nice BULLISH strength. If we are able to see a breakthrough of this strong support area, there will be a potential strong BEARISH continuation occurring.
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