In this video, the Trader Guy looks at the USD/MXN pair for the May 14th session.
USD/MXN — As you can see on the daily chart, the market has been trading inside this pennant pattern. The 24.00 level below looks supportive. The measured objective of this pattern comes at the 34.00 level. The 50-day EMA below looks supportive. The emerging markets look bearish compared to the US dollar. The mairket is considered bullish as long as it stays above the 200-day EMA.
© Prabhu for Forex Videos, 2020. |
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