MXN, RUB, TRY: uncharted potential

MXN, RUB, TRY: uncharted potential

2020-06-10 • Updated


Currencies of developing countries such as the RUB, TRY, and MXN are by definition unstable. That’s why they fluctuate more than main ones, offering wider profit opportunities. At the same time, they are normally weaker than the USD. In the long run, therefore, you are likely to see USD/RUB, USD/TRY, and USD/MXN mostly rising. Hence, with exotic currencies, you have an almost guaranteed and predictable long-term trend coupled with wider profit opportunities – what can be more interesting for a trader?


Few other currency pairs offer a richer environment for technical analysis than USD/RUB. The multitude of highs and lows far away from each other gives a lot of space to apply indicators and identify trends. In the long-term, the USD is winning over RUB but fierce battles make it shift from 50 to 80 and back over years. In the mid-term, further downside is imminent as the USD is still retracting from the shocking strike made at the RUB in March. Until the bottom of this uptrend is touched, any short-term upside as suggested by bullish divergence will likely disappear in a larger bearish move.



It’s not the first time USD/TRY dives below the 50-MA to get back rising, and it’s not going to be the last. The Turkish financial authorities are trying what is in their hands to stabilize the Lira and bolster the economy - hence the current consolidation above the support of 6.67. That will not change the fundamental layout, though, so USD/TRY will eventually get back upwards. What can be more attractive than convenient regular downward corrections in a stable guaranteed large uptrend?



Moves this big normally don’t happen with developed currencies – and that’s not only due to the virus. In one month, USD/MXN went from 18.50 to 25.35 making a 27% rise. Currently, it’s in a mid-term retrace testing the support of 100-MA at 21.50. We are likely to see it further below at 50-MA but the fundamental layout doesn’t change the weakness of the Peso. Although with battles, it will give way to the USD as the Mexican economy cannot compete with its northern neighbor.



Exotic currency pairs are as unknown as more attractive to trade. They offer more room for technical analysis and are more predictable fundamentally. In other words, clear trends, lots of moves, wider profit opportunities – that’s what you have with exotics.

                                                                                                LOG IN


Oil: Russia-Ukraine Crisis Could Boost Oil Prices
Oil: Russia-Ukraine Crisis Could Boost Oil Prices

Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...

WTI and Brent React To a Key Pivot
WTI and Brent React To a Key Pivot

Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...

Latest news

USD: Powell Speaks on Cutting Interest Rates
USD: Powell Speaks on Cutting Interest Rates

Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

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.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera