Mexican Pesos to the Technical Price Outlook: USD/MXN in the short-term Trade Levels
- Mexico Peso updates technical trade levels, Weekly, and Daily Charts
- USD/MXN he collapses by more than 15% to the cost of several months hollow
- The Risk for a deeper correction, while below it, 22.1503, key support 21.2316
The The US Dollar it is on the point of marking the fourth consecutive weekly decline against the Mexican Peso, with the price now down more than 15% of the off-the-record in the month of April. The decline has broken below a key support pivot that we have followed, and to keep the risk-weighted downward in the topic for the month of November to open it. This are the updates of the goals and levels of invalidation, that matter, on the USD USD USD USD/MXN technical price charts. Review my last Strategy Webinar to a depth of ventilation this Peso trade the installation program and more and more.
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The price of the currency mexican Peso Chart – USD/MXN Weekly
Table Prepared by By Michael BoutrosTechnical Strategist; USD/MXN on Tradingview
Technical Outlook: In my last Mexican Peso Price Outlook we noted that the USD/MXN pair is approaching support with a “a break / close below 23.9074 needed to keep the focus drop in the us dollar.” A break of the monthly the opening area hollow the May 20,th fueled a decline of more than 8% at the end of the month before closing above a key sress the change to the time of 2017 to a high of 50% retracement the 22.0376/1495the u.s. Dollar is the rupture of this zone and at the beginning of June, a trade, and the risk remains for further losses while below.
The price of the currency mexican Peso Chart – USD/MXN Daily
Notes: A closer-look-at – Peso share price indicates, the USD/MXN pair continue to trade within the confines of the descent pitchfork the training, we were followed out of the peaks, with a break below 25% is a parallel today to further highlight the risk of losses here. Incorporated in down the channel, keeps the focus on this confluence of support 21.2316/2941look for a greater reaction, there is IF the stores. Short-term bearish invalidation now 22.1503 with a breach above the median line, about 100%, ext-at 22.7811 needed to shift the wider focus to the long side of the Dollar.
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The Bottom line: The Mexican Peso to rally software jobs USD/MXN below a key support pivot in price, and leaves the pair vulnerable to further losses in the section June trade. From a point of view of bargaining, look to reduce the short-exposure / lower protective stops on a test, or is the bottom line – keep an eye open for a reaction, he for the tips. In the end, a breach of contract above 22.7811 would be needed to put the bulls back in control.
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— Written by By Michael BoutrosTechnical Strategist with DailyFX
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