The currency pair US Dollar to USD Mexican peso USD/MXN is trading at the level of 18.73. The pair continues to trade below the lower limit of the Ichimoku Cloud, which indicates a downward trend in the US Dollar Mexican peso pair. It is expected to test the area of signal lines near the level of 18.80, from which one should expect an attempt to fall and develop a bearish trend for this pair with the aim of dropping the level of 18.50.
Ichimoku Kinko Hyo forecast USD/MXN on March 31, 2017
Previously, a strong signal was received for the sale of the US dollar pair of the Mexican peso, due to the intersection of the signal lines at the level of 19.15. The cancellation of the fall option will be a breakdown of the upper boundary of the Ichimoku Cloud with the closing of quotations above the area of 19.25, indicating a change in the downward trend in favor of the ascending trend. Expect to accelerate the fall in USD/MXN quotes with a breakdown of the local minimum area at 18.65.
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