USDMXN - Descending Triangle
Hi everyone,
After the market rallied during the last week in favor of the US dollar ,
we sold off later in the day making the chart bearish in the short run.
It seems we are forming a descending triangle .
We could go to 18.75 soon, and that could be a break to 18.50, especially if oil price don't fall.
On the other hand, if we go bullish , I expect the prices to go to 19.19 and then to 19.50.
However, as I mentioned, I am more in favor of a downside.
After the market rallied during the last week in favor of the US dollar ,
we sold off later in the day making the chart bearish in the short run.
It seems we are forming a descending triangle .
We could go to 18.75 soon, and that could be a break to 18.50, especially if oil price don't fall.
On the other hand, if we go bullish , I expect the prices to go to 19.19 and then to 19.50.
However, as I mentioned, I am more in favor of a downside.
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