USDMXN Technical Analysis, January 5th 2018.
At the end of the first week of 2018 the USDMXN pair found a pivot point matching a previous resistance (now could work as support) and a demand zone. My recommendation is to wait until the price confirm the downside breakout to sell short with the target at the next support point at 18.52, if the price breaks the down trend, we can buy with our next target at 19.85 and with a stop loss at 19.16.
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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.