USDMXN 1D Chart Breakdown

11 de out. de 2020

This is the Daily Chart for USDMXN and on this chart we can start by seeing an obvious downtrend for the 1W and having a recent bounce off the trendline and a recognized S/R Zone. Now the 1H and 4H are both showing a more aggressive downtrend towards the Supply Zone and if it breaks through the supply zone we could see a drastic down jump possiblity, there are 5 possibilities at the moment but 3 of 5 options are in a downtrend favor at the moment. If we also look at DXY (I have that in my previous Publishing's) it looks like USD is tanking at the moment and any XXXUSD pairs are gonna be good to look into. As always leave feedback or thumbs up ing this if it helps or you like it. I will keep my eye on this pair as it seems to have very steady movements.