USD/MXN: Our expectations: Declining trend, correction to horizontal and diagonal. Possibility for short positions with stop 18.077.
Alternative scenario: If the price goes above the resistances, the outlook will change to long, where we can look for purchases after test of the breakaway.
Commentary: The price made a correction movement to horizontal and diagonal resistances. 50.0% Fibo held to the correction and the trend continues to decline.
CCI(50) is below 0, confirming the declining trend. CCI(14) crossed 100 from top to bottom - both indicators are signaling for short movement.
50/200 SMA - Bearish formation
Jr Trader Alexander Kumanov
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