Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of June 24, 2018.
The difference between success and failure in Forex trading is very likely to depend upon which currency pairs you choose to trade each week
At the start of this week, in my “pairs in focus” item, I highlighted some potential trading opportunities I saw as likely to come along this week, including long USD/MXN (shorting the Mexican Peso).
Get the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week of June 4, 2018.
The US dollar fell again against the Mexican peso during the session on Thursday as the 18.50 level offers quite a bit of resistance.
During the day on Thursday, we saw the US dollar fall a bit against the Mexican peso, but we did also see the 18 handle offer a bit of support yet again.
During the session on Friday, we get the Nonfarm Payroll Numbers out of the United States, so that of course will have a significant effect on what goes on with the US dollar.
The USD/MXN pair had a very strong session again on Thursday, following an extraordinarily strong session on Wednesday.
Stay up to date for the trading year ahead with our Forex forecast for the USD/MXN pair.
The USD/MXN pair continues to grind its way higher over the last several months, and we don’t think that January will be any different.
The USD/MXN pair continued to go sideways during the course of November, using the 16.40 level as support.
The USD/MXN pair initially tried to fall during the day on Wednesday, but the 16.70 level continues to attract buyers as this market is currently grinding sideways.
The USD/MXN pair fell initially during the course of the day on Wednesday, but turned back around near the 16.72 handle.
The USD/MXN pair fell initially during the course of the day on Friday, but found enough support near the 16.4 level to turn things back around and bounce.
The USD/MXN pair found support at a vital area after initially falling during the session on Tuesday. Because of this, we ended up forming a hammer which of course is one of my favorite signals to start going long.
The USD/MXN pair fell initially during the course of the day on Friday, but found support near the 16.70 region.
The USD/MXN pair fell initially during the session on Friday, but turned back around to form a hammer again. We had formed a hammer on Thursday as well, so I would like to look at this chart.
The USD/MXN pair rose during the session on Monday, as the markets continue to favor the US dollar in general.
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The USD/MXN rose during the course of the session on Wednesday, breaking above the 16.11 level. This coincides nicely with a significant breakdown in the oil markets, as we found ourselves trading below $50 for the first time in ages.