Tue. Mar 28th, 2023

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

US Dollar, Mexican Peso, South Korean Won and African Rand invite discussion

1 min read

US/MXN continues with a terse Bull Flag pattern. It increased over 30% to an unrivaled high of nearly 25.36, previous to pull back and finally dashing the multi-week uptrend.

USD/KRW is probably to witness a pithy pierce after recovering an imbue, month-long declining resistance channel and an inflection point at 1219.7.

Though USD/ZAR initially rose a bit more than 22% since the beginning of the elevation, has currently incapacitated from its all time high at 19.0340.

The XAU/USD needs to break that resistance trend line  before an uptrend confirmation is possible. A breakout, pullback, and continuation pattern would help confirm the break. The target is aiming at the $1800-1820 zone. A failure to break could indicate a retest of the support zone first. A break below the support zone most likely invalidates the bullish outlook.

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