Usd/ Mxn – Is There A Further Extended Drop? |KOL Analysis•Jasper Njuguna

Interesting to see the green buck has lost ground against the Mexican peso after a really strong bull rally and price has reached and being held at the trading month of June low level price handle of 21.49428.

Currently, the market sentiment may suggest that there is a strong bearish or selling pressure with a much defined descending channel makings lower high and lower lows which can be viewed really by the market participant on the 4 hour chart. In addition, sellers may be dictating their intention when they broke past the 200 MA and retested it as a resistance confluence band.

Daily Chart;

Now, is this a pair a good swing selling opportunity for swing and position traders？ Very highly likely as the sellers made a dash past the trading month of June low level with a strong red momentum candle during the close of yesterday trading session.

Of course, ones discretion and risk management is advised.

Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.

Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa

WikiFX, a third-party forex broker inquiry platform, has collected

the information of 19,000+ forex brokers, 30 regulators, and helped

victims recover over 300,000,000.00 USD. WikiFX App provides functions

like forex brokers inquiry, calender, forex news express, calculator and

other trading tools to help you get trading done with ease.

Forex brokers inquiry: in order to create a safe forex trading

environment, WikiFX offers you two methods of checking the compliance of

forex brokers, online checking and offline investigation report. WikiFX

has an independent inspection team, conducting on-spot visit to brokers

offices to identify they are trustworthy or not.

Forex calender: the financial events which may affect forex trading

Forex news express: providing you the latest info anytime and anywhere

Forex forum: tons of posts by WikiFX users, containing technical

analysis, industry discussion, fraud brokers exposure; Users can

exchange their thoughts here freely.