TomProTrader

#USDMXN-Update: Price At Major Support, Further Downside?

FX:USDMXN   U.S. Dollar / Mexican Peso
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4
Traders,

UPDATE: Pair has moved well since last posted (See related ideas)

Bearish engulfing signal at sideways support gives the necessary momentum to break the sideways support level into the lows. Expecting the move to continue, and a sideways support retest could eventually be tested as resistance, before a further breakdown to the lows. More downside to be seen for rest of week, possibly into next week. Price is rolling over, perhaps lows will be seen.

I hope you have a tested trading strategy to trade this move as it goes.

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