USD/MXN 1H Chart: Short-term increase expected

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)SellNeutralNeutral
Alligator(13;8;5)NeutralSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The US Dollar has been depreciating gradually against the Mexican Peso since the beginning of March. This movement has been bounded in the descending triangle pattern.  

As apparent on the chart, the currency pair has already reversed north from the lower pattern line at 18.76. From a theoretical point of view, the pair should target the upper triangle boundary located in the 19.20/19.30 range.  

However, this advance might not be immediate, as the currency pair has to surpass the resistance formed by the 200-hour SMA, currently located at 18.94. Also, important level to look out for is the Fibonacci 38.10% retracement at 19.21.

Actual Topics

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台,SWFX和其它相关交易详情,
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.