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USD/MXN: Chart Of The Day

Published 12/09/2020, 05:20 PM
Updated 07/09/2023, 06:31 AM
USD/MXN
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The descending wedge is a good reversal pattern once the descending trendline is broken. In this case, this is near the 20.000, a key "big figure" traders are watching. I am sure near term, traders who are long EM currencies like the MXN as stock hit record highs are wondering why their positions are not working better and seeing a stronger move lower in USD/MXN?

Me, I am asking myself: "I wonder where their stops are at?" My assumption is above the 20.0000 level. 

USD/MXN Daily Chart.

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