USDMXN forecast update 07 October

[Day Herrera Hernandez 111]

USD / MXN rose to the 21-75 zone on Tuesday, ending a four-day negative streak. Wednesday is falling, erasing most of the recent gains. It is hovering above 21.50 after the FOMC hours after finding support at 21.35.

The bearish bias remains. Immediate support is seen at 21.40. A consolidation below 9.30pm would open the doors for more sales exposing the 9.00pm zone that protects the September low at 20.83.

However, with the positive data in favor of the dollar, we can think that the price will shoot up again starting from 21.50 and with a target of 21.92, if the market breaks that liquidity zone we could have a new target of 23.95.

Take your precautions, markets can be very volatile.
Never over-operate and manage a correct risk control.

Like and follow

Edited October 7, 2020 by Day Herrera Hernandez
image is attached

[jhoancarlos 97]

2 hours ago, Day Herrera Hernandez said:

USD / MXN rose to the 21-75 zone on Tuesday, ending a four-day negative streak. Wednesday is falling, erasing most of the recent gains. It is hovering above 21.50 after the FOMC hours after finding support at 21.35.

The bearish bias remains. Immediate support is seen at 21.40. A consolidation below 9.30pm would open the doors for more sales exposing the 9.00pm zone that protects the September low at 20.83.

However, with the positive data in favor of the dollar, we can think that the price will shoot up again starting from 21.50 and with a target of 21.92, if the market breaks that liquidity zone we could have a new target of 23.95.

Take your precautions, markets can be very volatile.
Never over-operate and manage a correct risk control.

Like and follow