TK_trading

USD/MXN Potential Longs into 23.2500

Long
FX:USDMXN   U.S. Dollar / Mexican Peso
My outlook for USDMXN next week (USA Fundamentals providing.. we will be keeping a close eye on this and Covid to see if the dollar is loosing power in which case it could easily turn bearish )

its been a wild bearish ride for USDMXN recently and i can see a bearish uptrend starting to form in a new channel. we are waiting for a bounce of the supporting trendline around 22.2450 and then up towards the 0.382 fib level with TP set around 23.2550 - stop loss set around 21.8500 just below last lower low if it breaks past this it could be the start of a longer bull run. will be keep a close eye on the current short term bearish trend reversing before entering this one.

this pair is extremely volatile do advise being cautious with risk.

my 2nd post on tradingview, any feedback always appreciated!
twitter @ XTK_trading

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