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USDMXN Head-and-shoulders On Radar

USDMXN Head-and-shoulders On Radar

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

USDMXN 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.

USDMXN Daily: Sep ’14 – Present

Written by Paul Robinson, DailyFX Research

To contact Paul, you can email him at

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.