During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
Levels to trade USD/MXN
2020-02-21 • Updated
The volatility in USD/MXN has jumped. The pair is correcting up within the downtrend, which has been in place since September. On Thursday, the price closed above 18.78 (50-day MA). The targets for the correction lie in the 19.015/038 area (100-day MA, the presumed point D of a harmonic “Crab” pattern). Notice, however, that buying is risky as the pair is currently overbought. When the price arrives to the mentioned zone, the bearish trend will likely resume or, at least, will try to do so. Support levels are at 18.91, 18.825, and 18.757.
Trade ideas for USD/MXN
SELL 19.015; SL 18.91; SL 19.04
SELL 18.89; TP 18.25; SL 18.92
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...