Currency pair USD/MXN US Dollar Mexican Peso is trading at 20.19. The pair is trading inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a flat trend for the US Dollar Mexican Peso. In the framework of the Forex forecast, the test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 20.35. Where should we expect an attempt to rebound and continue the fall of the currency pair with a potential target near the level of 19.80.
Mexican Peso forecast USD/MXN November 23, 2018
An additional signal in favor of the fall of the USD/MXN currency pair will be the test of the upper limit of the «Triangle» model. As well as a rebound from the area of resistance. Earlier, a signal of average strength was received for BUY the USD/MXN pair, due to the intersection of signal lines at the level of 20.35.
Canceling the option of falling quotes of the pair will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 20.40 area. This will indicate a change in the side trend in favor of an upward trend and continued growth of the pair. Expect to accelerate the fall in USD/MXN quotes with the breakdown of the lower boundary of the «Triangle» model and closing below 20.05.
Mexican Peso forecast USD/MXN November 23, 2018 involves an attempt to test the level of resistance near the 20.35 area. Where can we expect a rebound and the continuation of the fall of the currency pair with a potential target near the level of 19.80. The abolition of the option of reducing quotations will be a strong growth and a breakdown of the 20.45 area. This will indicate continued growth.