USD MXN Overview

WTI oil respected the long-term support created by the highs from the end of 2016 and the first half of 2017 (grey area, 55.1 USD/bbl). This level coincided with the upper boundary of the upwards channel. The price tested that area for two days but buyers finally managed to put an end to the short-....

Gold finally broke the 50% Fibonacci around the 1,282 USD/oz mark, which has been a strong resistance since the 23rd of October. After that, the price defended it as a closest support and made new mid-term highs. According to price action principles, this should trigger a buy signal. USDMXN is form....

As expected, WTI oil used the ascending triangle to climb higher. Yesterday, the price broke the upper line of this formation. Today, we have a flat correction testing the 52.6 USD/bbl as the closest support. The hammer on the H1 looks promising and there’s a high chance that this will result in a ....

USDMXN. We can see the first signs of the exhaustion here. After breaking the upper line of the triangle, the price surged higher. Now we are approaching the 38.2% Fibonacci where we may see some profit taking action from buyers. That resistance is additionally strengthened by the highs from March,....

An hour before the NFP report, USD is a bit weaker and is erasing some of its latest gains. A triple bottom could be forming on the EURUSD pair, which could actually end the bearish correction here. The price is defending the 23.6% Fibo and today we should see some demand at this important support.....

Stocks are trying to recover today from the heavy blow they received yesterday. The US Dollar is significantly weaker and the focus of market participants is slowly shifting towards the ECB meeting on Thursday. In a few hours, we will get a small aperitif from the BoC with their rate statement. Gol....