USD/MXN is fighting with resistance

USD/MXN is fighting with resistance

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).



CAD/JPY turned down

CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4.

Latest news

Deposit with your local payment systems

Learn more


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

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