So USDMXN is respecting both the 19.61 level and the purple downtrend line. A lot of touches on the trend line (red circles drawn) and rejections. We are looking for a break on this trendline as a first signal of reversal. Below 19.61 we have 19.03 and 18.55 but we don't think it goes there.
Similar fractal from when it climbed from 18.55 to 26, we were following a descending triangle that actually broke to the bottom before reversing hard. The market does what the market wants to do.
Similar fractal from when it climbed from 18.55 to 26, we were following a descending triangle that actually broke to the bottom before reversing hard. The market does what the market wants to do.
