I am just beginning a study into the USDMXN, I have stayed away from these more volatile pairs for a little while however the technicals are beginning to look quite good.
The pair is approaching a break of trend-line on the daily chart having completed a bearish engulfing candlestick on the weekly.
The MACD indicator has turned lower and is quite close to zero, it has been positive since aug 2014 suggesting a medium term trend may becoming to an end.
The point and figure charts are not yet issuing sell signals, I will continue to watch for the next few weeks to see how the situation develops.
The pair is approaching a break of trend-line on the daily chart having completed a bearish engulfing candlestick on the weekly.
The MACD indicator has turned lower and is quite close to zero, it has been positive since aug 2014 suggesting a medium term trend may becoming to an end.
The point and figure charts are not yet issuing sell signals, I will continue to watch for the next few weeks to see how the situation develops.