Forex Analysis: DXY, USDCAD,USDMXN
In deed a nice week for the USD....
It was really fun for me the behaviour of the DXY index during this week. The Index has experienced a devaluation of 1.31% since maximum of the sunday at start of the market. After that since the lowest price to the new maximun it has experienced a vauation of 1.52%. The price seems to stay above of the level i had pointed in the last analysis, but... something its not right...!!
If we check our indicators looking for information to sustain the behavior of the index, i cant find any information that support it. What is interesting is that the MACD and the STOCHASTIC indicators, both show a possible retriment. I will watch the prices of 91.47 points and 90.50 to be targets of the retriment, these prices could also be prices for the continuation of the high trend that the index could be building for the mid term.
USDCAD NICE TRADE!
Last time i share my view of USD CAD index, i had describe a retirement and give you targets for the short - mid term. During this week we had experience the hit of our first target, and it seems the price wants to look for lower prices, so it might happen during the next week. The price could still fall to 1.27190 giving us a very nice moment to start to check for "Long positions" but we need to be patience and wait for the confirmation.
Please keep an eye to the price of 1.27455 this could be key of what we can spect for the USDCAD during the next week.
Yes it was for the TLCAN
One of the worst weeks for the MXN. Fear for the presidential election, fear for the TLCAN, fear and uncertainty it was the main topic for the MXN and the market shows it
But nothing can last forever, even if the price hit the 20.000 price, for the midterm it seems to experience a retirement of the price and hit the following prices:
- 19.5
- 19.2
- 18.5 (long term)
Let's wait and see how's the market will open on sunday. I hope this can help you to make decision if you are following some of this currencys.
Remmeber, patience always pay and the winner strategy will always be a good money management.
Thank you.
Saul Q.
I don't understand why the USD is going up.
Me neither, but probably is cause the Market makers
With the new trade decisions made by US, it will have a negative impact on the economy. In a globalist economy, nationalist approach is not good. It may be going up now, but it will see the impact for decades to come.
In respect to the USD/CAD index where do you see that rate at the end of the year? Canada is a commodity superpower, however USA had some juicy corporate tax cuts. NAFTA is at risk too. It may go above 1.3 USD/CAD with some more us rate increases. (I'm a fundamentals cat, not a technical analysis one)
Yeah Like it!!! i can give you a point of view of this on my next post, how about that ?
Fair enough 😺
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thank you!
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Yeah it has been a nice week
Thank you my friend
What I love about getting USD on steem is that it's almost 4x my contry's currency. :D
Yeah!!! Im glad about it!! thank you for your comment
Good content in your post. I like it.
Thank you my friend
A deep analysis done by you. Yes I appreciate your work.
Thank you my friend !
Excelente análisis!! 😃
Muchas gracias hermano!