The Mexican Peso (MXN) dips in its most traded pairs on Tuesday.
The Mexican Peso has lost ground in its major pairs after the assassination attempt on Donald Trump. Trump’s poll ratings improved after the incident and if he wins the election he is likely to bring in trade tariffs. USD/MXN is showing signs of reversing its recent decline from the June highs. The Mexican Peso dips in its most traded pairs on Tuesday.
USD/MXN Daily Chart Another bullish sign is that USD/MXN might also have completed a Measured Move pattern. MMs are large, three-wave zig-zags, with waves labeled A,B and C. The end of wave C can be estimated using the length of wave A as a guide. C is usually equal to A or, at least, a Fibonacci ratio of A. C is now roughly the same length as A and is more than the Fibonacci 0.618 ratio of A, suggesting the pattern could be complete.
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