USD/MXN 4H Chart: New patterns get marked
Since the last time that the USD/MXN pair was reviewed a lot of developments have occurred.
First of all the resistance of the previously active medium channel down pattern was broken. Secondly, a new medium term ascending pattern has been mapped. However, those are background patterns to take into account in an orders to enforce proper risk management.
Main attention is focused on the newly formed ascending channel pattern, which represents the recent surge of the US Dollar against the rest of the currency markets. The channel can be used to set one’s orders.
First of all the resistance of the previously active medium channel down pattern was broken. Secondly, a new medium term ascending pattern has been mapped. However, those are background patterns to take into account in an orders to enforce proper risk management.
Main attention is focused on the newly formed ascending channel pattern, which represents the recent surge of the US Dollar against the rest of the currency markets. The channel can be used to set one’s orders.