Currency pair US Dollar to Mexican peso USD/MXN is trading at the level of 19.0558. The pair continues to trade above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an upward trend in the US Dollar Mexican peso pair. The pair is expected to fall near the level of 18.9500, from which it is expected to try to grow and develop the bullish tendency for the pair with the purpose of growth near the level of 19.3200.
Analysis and USD/MXN Forecast Mexican Peso on May 11, 2017
Earlier, a medium strength signal was received for purchases of the US Dollar Mexican peso pair, due to the intersection of the signal lines at the level of 18.8901. The cancellation of the growth of the pair’s quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 18.8900, which will indicate a change in the upward trend in favor of the downward trend. Expect to accelerate the growth of quotations USD/MXN stands with the breakdown of the local maximum area at 19.3300.
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