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Old 10-11-2012, 06:23 AM
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Default Chart of the Day: USD/MXN Hammer

USD/MXN rallied the most in a month after Standard & Poor’s downgraded Spain, raising fears over the European debt crisis and global economic growth.

Looking at the daily USD/MXN chart we can see a hammer candlestick pattern at the bottom of a substantial downtrend starting in June, signaling a possible reversal.

Chart courtesy of Oanda
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