Tag Archives: MXN

USDMXN And GOLD Looking For A Turn

Grega Horvat

USDMXN is trading bullish since 11th of May, where a higher degree correction found a base. After that a new five-wave impulse begin to unfold, which we think can be part of a bigger blue wave five. That said, we specifically see price unfolding a final five-wave recovery from 19.5058 level, which can look for a top and reversal around 20.050/20.1800 region, where Fibonacci ratios of 161.8/200 can act as turning points. more…

Crude Oil And USDMXN Analysis

Grega Horvat

Crude oil can be unfolding a third wave of a decline, which can be labelled as wave c, leg that can look for support and a turn higher around the 66.55 region. 66.55 area is the first region of support (Fibonacci ratio of 100.0 compared to wave a), while 65.59 level is the second region of support, where bulls can slow down. more…

USD/MXN Mexican Peso Dropping Heavily

Nenad Kerkez

Recent suggestions in the media that Trump is closing the gap in the polls ahead of the US election is putting further pressure on the MXN. Trump’s plans are to do better trade deals with Mexico, and perhaps build a wall to stop illegal immigration in the USA. The USD is also losing some strength when looking at the USD Index, and this is primarily due to risk-off against the USD ahead of the elections. We can see de-risking now in most markets. more…