Trading news

USD/MXN Mexican Peso dropping heavily



Recent suggestions in the media that Trump is closing the gap in the polls ahead of the US election is putting further pressure on the MXN. Trump's plans are to do better trade deals with Mexico, and perhaps build a wall to stop illegal immigration in the USA. The USD is also losing some strength when looking at the USD Index, and this is primarily due to risk-off against the USD ahead of the elections. We can see de-risking now in most markets.
Technically, USD/MXN is in a strong uptrend followed by bullish order block far to the left that is connected to strong double top breakout (purple rectangle). The pair is very close to resistance, and we should be patient and wait for buy the dips scenario. Should USD/MXN proceed further up without any retracement pay attention to 4h close above 19.47 towards 19.68. If the pair breaks down the steep trendline it should signal a retracement towards POC 19.02-09 ( L3, DPP, 61.8, EMA89, double top breakout/bullish order block). Targets are 19.47 and 19.68.

Wednesday, 02 Nov, 2016 / 2:56

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/

Trading news

 

Risk Appetite Remains High On Trade Deal & US Data

Equities continue to remain poised to the upside due to a number of factors. [...]

Posted on Friday, 17 Jan, 2020 / 2:46 under

US earnings and data, China GDP propel stocks to fresh highs; dollar nears 8-month high vs yen

  China reports slowest annual growth in 29 years but signs of [...]

Posted on Friday, 17 Jan, 2020 / 10:05 under

GBP, NZD and USD the Main G10 Gainers, Equities Sail North

The dollar traded higher against most of the other G10 currencies yesterday, [...]

Posted on Friday, 17 Jan, 2020 / 8:41 under