Wednesday, February 18, 2009

Bearish Technicals For The Mexican Peso



The Mexican Peso is a market that not too many people talk about but for those who do follow this currency I just wanted to post a few comments. You'll notice in the above daily chart of the Mexican Peso that we have a picture perfect descending triangle formation that has taken place over the past few months. This pattern is bearish and suggests that we should see lower prices for this currency in the weeks to come.

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