USD/MXN 4H Chart: New patterns get marked

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Buy Neutral Neutral
SAR (0.02; 0.2) Buy Buy Sell
Aggregate

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.

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