Mexico in a weaker bargaining power over USA
I could be wrong but I think Mexico has a weaker bargaining power over US in the tariffs matter. As such, I would expect its currency to weaken against the USD sooner/faster than the Canadian dollars.
Day chart shows 20.83 resistance level - if this cannot be break up, then I expect it to falter and get shot down fairly soon.
Please DYODD
Day chart shows 20.83 resistance level - if this cannot be break up, then I expect it to falter and get shot down fairly soon.
Please DYODD
Note
It appears that choosing the right country currency to LONG or SHORT is important and that is where your due diligence comes in. Canada is in a stronger bargaining position compared to Mexico and it has counter attacked US with similar tariffs on hundreds of billion worth of goods. Call it tit for tat or whatever you like. And that explains why the USDCAD pair is holding up much stronger than USDMXN. Note
Praise God. Congrats to those who followed. We have a bearish pin bar which means most likely the selling pressure is still present....
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.