This a trend analysis on USD/MXN.
Our first indicator on an uptrend comes from the golden cross on October 26, 50 MA crossed the 100 MA. Last two times it happened we saw important increases which should mean midterm profit.
Both the stochastic and RSI are pointing up, but buyers are getting tired, so my entry point should be between 19.43-19.83 with a definitive support at the 0.382 level, do not buy if it goes below this level as this may indicate a trend reversal.
The profit targets are also important as I believe we might have a definitive rejection at the 1 line so plan your locking of profits accordingly.
Also and pretty important, the new Mexican president is being sweared in on December 1st, 2018. Being that this individual is a very controversial person, we might see an important USD take over the MXN which might trigger higher levels of profit above the 20.80 price. Be watchful.
Please, please, please comminity, can I have some feedback on this analysis? I believe that there will be a hell ton of money to make if you open a position and hold it till a bit after December 1st.
Our first indicator on an uptrend comes from the golden cross on October 26, 50 MA crossed the 100 MA. Last two times it happened we saw important increases which should mean midterm profit.
Both the stochastic and RSI are pointing up, but buyers are getting tired, so my entry point should be between 19.43-19.83 with a definitive support at the 0.382 level, do not buy if it goes below this level as this may indicate a trend reversal.
The profit targets are also important as I believe we might have a definitive rejection at the 1 line so plan your locking of profits accordingly.
Also and pretty important, the new Mexican president is being sweared in on December 1st, 2018. Being that this individual is a very controversial person, we might see an important USD take over the MXN which might trigger higher levels of profit above the 20.80 price. Be watchful.
Please, please, please comminity, can I have some feedback on this analysis? I believe that there will be a hell ton of money to make if you open a position and hold it till a bit after December 1st.