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...
USD/MXN is fighting with resistance
2019-11-28 • Updated
Trade ideas
BUY 19.64; TP 19.78; SL 19.60
SELL 19.48; TP 19.42; SL 19.50
USD/MXN has been strengthening since the start of November, although you can notice by looking at the chart that the advance hasn’t been smooth. During the recent days, the price has been trading in a kind of a “rising wedge”. This week the pair’s upside got limited by 19.5872. The next level to watch above it is 19.6345 (50% Fibonacci retracement of the August-October decline). If USD/MXN manages to overcome the resistance and fix above this point, it will have a chance to get up to 19.78 (61.8% Fibo). On the downside, the return below 19.4870 can open the way for a correction to 19.4120 (100-day MA).
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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...