USDMXN rising wedge reversal in play
USDMXN is bouncing off the support 19.500-20. This is a long-term support zone, and the beginning of the possible reversal is higher after the multi-month consolidation. A break above 20 .350 would lead to an upside extension and another test of the 20.800 short-term wedge resistance for a breakout higher. Only a break below 19.50 could invalidate this scenario
Note: look for the long trade entries upon a break above 20.350 with the stop below 19.50
“If you think Investing is risky, wait till you receive a bill for not Investing!” Jim Rohn
REAL-TIME TRADERS EDUCATION! TRADER’S CLASSROOM ONLY $69 PER MONTH!
