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USD/MXN: Head-And-Shoulders On Radar

Published 01/22/2015, 01:11 PM
Updated 07/09/2023, 06:31 AM

Talking Points:

  • Head-and-shoulders nearly complete
  • A break of the neckline acts as confirmation
  • Should a break of the neckline occur, a measured move below 14000 in the cards

USD/MXN is in the final stages of forming a head-and-shoulders pattern, easily visible on the daily time-frame. A confirmed break of the neckline puts the formation squarely in play, with a measured move target below 14000. The target for a measured move on an H&S pattern is determined by subtracting the height of the pattern (head to neckline) from the neckline.

USD/MXN

Written by Paul Robinson, DailyFX Research

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