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USDMXN

Analysis of USDMXN 10.10.2019The price is below the moving average of 20 MA and MA 200, indicating the downward trend. MACD is below the zero level. The oscillator Force Index is below the zero levels. If the level of support is broken, you shall follow the recommendations below: • Timeframe: H4 • Recommendation: Short Position • Entry Level: Short Position 19.4900 • Take Profit Level: 19.3600 (1300 pips) If the price rebound from support level, you shall follow the recommendations below: • Timeframe: H4 • Recommendation: Long Position • Entry Level: Long Position 19.6400 • Take Profit Level: 19.7000 (600 pips) USDCHF A possible short position in the breakdown of the level 0.9910 USDJPY A possible short position in the breakdown of the level 107.30 EURUSD A possible long position at the breakout of the level 1.1020 GBPUSD A possible short position in the breakdown of the level 1.2190
by PaxForex
USDMXN Fundamental Analysis – October 9th 2019Here are the key factors to keep in mind today for US Dollar trades: US JOLTS Job Openings: US JOLTS Job Openings for August a predicted at 7.191M. Forex traders can compare this to US JOLTS Job Openings for September which were reported at 7.217M. US Wholesale Inventories and Trade Sales: US Final Wholesale Inventories for August are predicted to increase by 0.4% monthly. Forex traders can compare this to previous US Wholesale Inventories for August which increased by 0.4% monthly. US Wholesale Trade Sales for August are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Trade Sales for July which increased by 0.3% monthly. FOMC Minutes: The US Federal Reserve will release minutes from its last meeting today and forex traders will look for any potential change in the wording used which could give insight to future monetary policy adjustments. Here is the key factor to keep in mind today for Mexican Peso trades: Mexican CPI: The Mexican CPI for September is predicted to increase by 0.25% monthly and by 2.99% annualized. Forex traders can compare this to the Mexican CPI for August which was reported flat at 0.00% monthly and which increased by 3.16% annualized. The Mexican Core CPI for September is predicted to increase by 0.29% monthly. Forex traders can compare this to the Mexican Core CPI for August which increased by 0.20% monthly. The Mexican Bi-Weekly CPI for the week ending September 30th is predicted to increase by 0.10% monthly and by 2.98% annualized. Forex traders can compare this to the Mexican Bi-Weekly CPI for the week ending September 16th which increased by 0.17% monthly and by 2.99% annualized. The Mexican Bi-Weekly Core CPI for the week ending September 30th is predicted to increase by 0.09% monthly. Forex traders can compare this to the Mexican Bi-Weekly Core CPI for the week ending September 16th which increased by 0.19% monthly. Should price action for the USDMXN remain inside the or breakdown below the 19.5050 to 19.6530 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 19.6050 Take Profit Zone: 19.1900 – 19.3185 Stop Loss Level: 19.7425 Should price action for the USDMXN breakout above 19.6530 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 19.7425 Take Profit Zone: 19.9890 – 20.2545 Stop Loss Level: 19.6530 Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. There are many different forex trading strategies available, but did you know that with all of them you will earn more pips per trade at PaxForex? Sign-up now and find out for yourself!
by PaxForex
USDMXN - At reversal zoneExpecting a bearish reversal very soon here. The higher time frame count suggests that we should see a sharp reversal lower as potential wave 3 or wave C. But because we have a nice round base here, this could become a Cup and Handle pattern which is bullish! In that case, we should see price retrace around half of this move up before reversing higher. Key to understand what will happen will be to understand how the move lower will unfold, choppy and overlapping taking a lot of time-> Bullish sharp and quick -> Bearish.
Short
by ElliottWaveBelgium
ORBEX: Pre-BoE GBJPY, Post-Fed USDMXNIn today's #marketinsights video recording I analyse #GBPJPY and #USDMXN! #Pound Remains Solid: - MPs support 3-month extension - Monthly CPI rise not as expected, but improved #Yen Likely to Weaken: - BoJ held rates unchanged but acknowledged increasing risks - Ultraloose policy to be re-examined at October meeting #MXN Supported By Fed: - Emerging currencies will benefit from rate differentials - Oil is bid and likely to move higher Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
by Orbex