• DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
  • DAILY UPDATES
  • MARKETS
    • Forex
    • CFDs
    • Spot Metals
    • Indices
  • ANALYSIS
    • Fundamental Analysis
    • Technical Analysis
  • ARTICLES
No Result
View All Result
FTD Limited
No Result
View All Result

USDMXN Might Have Started to Lay Foundation for a Long-Term Cup & Handle

Burc Oran by Burc Oran
November 29, 2021
Reading Time: 1 min read
A A
USDMXN Might Have Started to Lay Foundation for a Long-Term Cup & Handle
0
SHARES
12
VIEWS
tweetpostshare
USDMXN Daily Chart

Mexican Peso had a bad time against the Dollar in the last week. The news about the new head of the central bank may have been light the fuse of USDMXN. USDTRY’s massive surge is putting other EM currencies under pressure while FED is getting more hawkish every other day. All the fundamentals point upwards and now technicals are too turning bullish. 

USDMXN break the key resistance, 21.50 last week, and now trying to settle above it.  The chart looks like a foundation of cup or cup &handle formation is set up between 19.50 and 25.50. If that is the case USDMXN may rise to over 30 in the long run with a successful formation and target. For more short to medium-term outlook, ıf the price can hold above 21.50, the middle point of the Covid-19 fall 22.67, and %61.8 (23.40) can be possible targets for bullish runs. Below 21.50, 20.80, and 21 can be followed as possible supports. 

Learn more about us
Tags: FEDPesoUSDMXNUSDTRY
TweetShareShareSend
Previous Post

Moderna: New Vaccine for Omicron Could be Ready by Early 2022

Next Post

Powell: Omicron Will Increase Economic Risks

Related Posts

Gold is Testing Major Support 
ANALYSIS

Gold is Testing Major Support 

According to reports in the British press, British Prime Minister Boris Johnson has agreed to leave his post.
DAILY UPDATES

British Prime Minister Boris Johnson is Resigning

Global Markets
DAILY UPDATES

Asian Stocks are on The Rise

West Texas-type crude oil
DAILY UPDATES

Sharp Drop in Oil Prices

British Finance Minister Sunak and Health Minister Javid resigned
DAILY UPDATES

British Finance Minister Sunak and Health Minister Javid Resigned

The Reserve Bank of Australia increased its policy rate by 50 basis points
DAILY UPDATES

The Reserve Bank of Australia Increased Its Policy Rate by 50 Basis Points

Next Post
Powell interest rate

Powell: Omicron Will Increase Economic Risks

You might also like

Psychology of trading plays a vital role in one's trading decisions

Trading Psychology

Differences between MT4 and Mt5

MT4 and MT5’s Differences – How to See the Total Lot Sizes in MT5?

Regulated and Licensed Forex Brokerage Company

Regulated Entities

FTD Limited's White Label Program gives you a chance to have your own brand within financial markets.

White Label Solutions

FTD Limited offers Introducing Brokers Program

Introducing Brokers

Algorithmic trading in forex, cfds and indices

Basics of Algorithmic Trading: Concepts and Strategies

Recent Posts

  • Gold is Testing Major Support 
  • British Prime Minister Boris Johnson is Resigning
  • Asian Stocks are on The Rise
  • Sharp Drop in Oil Prices
  • British Finance Minister Sunak and Health Minister Javid Resigned
FTD Limited

The content of the site is presented for informational purposes only not to give any investment advice which mainly focuses on financial instruments such as Forex, Spot Metals, CFDs, and Indices.

MENU

  • DAILY UPDATES
  • MARKETS
  • ANALYSIS
  • ARTICLES

Latest Articles

  • Gold is Testing Major Support 
  • British Prime Minister Boris Johnson is Resigning
  • Asian Stocks are on The Rise

Subscribe to our newsletter and get notified about the next update.

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    No Result
    View All Result
    • DAILY UPDATES
    • MARKETS
      • Forex
      • CFDs
      • Spot Metals
      • Indices
    • ANALYSIS
      • Fundamental Analysis
      • Technical Analysis
    • ARTICLES

    © 2021 FTD Limited

    FTD Articles is a website prepared by FTD Limited's research team. FTD Limited is an online brokerage company offering products of Forex, Spot Metals and CFDs.

    The ideas and the information shown here have no responsibility of any of the trading decisions made by the investors or the visitors of this site. Therefore, under no circumstances will FTD Limited nor FTD Articles be held responsible or liable in any way for any claims, damages, losses, costs or liabilities resulting or arising directly or indirectly from the use of website content. We recommend that you seek advice if you have not involved with trading before in order to prevent potential risks that may arise.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.