Weekly Price Action Setups & Trade Ideas | May 3-8

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Forex Trade Idea: EURMXN – Corrective Structure At Top, Looking For Breakout (daily chart)

Price Action Context

The EURMXN forex pair has been consolidating in a corrective structure near the top of the trend since late March, so over a month now.

I’m suspecting a breakout is coming soon, more likely to the topside, so am looking for a breakout trade.

Trending Analysis

ST neutral inside the corrective structure, but MT bullish while above 25 on …

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