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USD/MXN Analysis, Chart, and Trading Idea

22.05.2023

Analytics for USD/MXN Forex pair, based on complex analysis of modified waves, Fibonacci levels and price channels

The trend is descending. The currency pair is traded in the range between 365 and 135 ЕМА. The uptrend wave structure is truncated. There is a bearish divergence on the Awesome Oscillator.

Trading idea:

Sell at the formation of the descending wave structure, where the (A) wave breaches the sloping channel of the upward truncated structure.

Stop-Loss: 17.7958

Target price level: 17.4300

Author: GC

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