Check USD/TRY
USD/TRY has moved sharply down this week falling to the support line since the end of November.
USD/MXN remains under pressure
Trade idea
SELL at 19.06; TP 19.00; SL 19.08
USD/MXN is testing levels below 50-week MA (19.2130) and is vulnerable for a slide to the 100-week MA (18.9090).
The pair is trading within a narrow rapid downtrend channel on D1. The next level of attraction is the 78.6% Fibo retracement in the 18.95 area. USD/MXN will find support in this area as it’s already quite oversold. That's why we chose more conservative targets for the trade.
Elizabeth Belugina
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The downside correction is long due in XAU/USD. Gold is stuck ahead of resistance at 1298.50.
EUR/CAD is near support
EUR/CAD has approached the support line from the end of October.
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