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Trading Idea - USD/MXN, 24-11-2023
Trading Signal: USDMXN
| Order | Sell |
| Direction | Bearish |
| Pattern | Breaching a descending triangle |
| Interval | 1 hour |
| Length (Candles) | 5 |
Idea Summary
The short term USDMXN price forecast is bearish. The USDMXN price is breaching below the support of a descending triangle chart pattern under 200-period moving average MA(200). Most likely the price will continue falling as it breaches below Fibonacci 61.8 support level while there is a likelihood it may fail to breach below Fibonacci 61.8 and reverse and start rising.
Note:
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