Currency pair US Dollar to Mexican Peso USD/MXN is trading at the level of 18.6369. The pair continues to trade below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in the pair US Dollar to Mexican Peso USD/MXN. The Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 18.7400, from which one should expect an attempt to fall and develop a bearish trend for the pair with a view to lower near the level of 18.3500.
USD/MXN forecast & signals on May 24, 2017
Earlier, a medium strength signal was received for the sale of the US Dollar to Mexican Peso USD/MXN, due to the crossing of the signal lines at 18.9019. The cancellation of the fall of the pair’s quotations will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 18.9500, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in USD/MXN quotations, with the breakdown of the local minimum area at 18.5000.
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