The currency pair of the US Dollar vs Mexican Peso continues to move as part of the development of the bearish «Wolfe Wave» model. At the time of publication of the forecast, the US Dollar rate for the Mexican Peso is 18.82. At this point, we should expect an attempt to test the resistance level near the area of 18.90 and continue falling of the pair in the area below the level of 18.30.
USD/MXN forecast Mexican Peso September 19, 2018
In favor of lowering the quotations of the Mexican Peso, a downtrend test on the relative strength index (RSI) will perform. The cancellation of the USD/MXN decline on Forex will be strong growth and breakdown of the area at 19.00, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations in the area above the level of 19.20. To expect confirmation of the fall of the pair is with the breakdown of the support area and the closing of the USD/MXN pair quotations below the level of 18.75.
USD/MXN forecast Mexican Peso September 19, 2018 suggests an attempt to test the resistance area near the level of 18.90 and continue falling into the area below the level of 18.30, an additional signal in favor of the pair’s decline at Forex will test the resistance line on the indicator of relative strength index (RSI).
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