This is a currency pair that many traders neglect. But as a Trend Follower, we trade all markets because we never know when a trend may be emerging.
Daily USDMXN Chart:
On Daily, we see strong bullish momentum towards the upside that started in November.
However, it’s hard to identify historical patterns to exploit as the price is compressed into daily candles.
4 Hours USDMXN Chart:
On 4 hours we see price tend to have shallow pullbacks towards the 20 EMA before rallying higher.
Traders can look too long on pullback or trade breakout towards the upside.
Good Trading!