USD/MXN: Short-term price action to remain between 20.12/20.00 and 21.00 – Societe Generale
Source Fxstreet
USD/MXN carved out an interim high near 21.28 earlier this week and re-integrated within its multi-month range; this denotes lack of steady upward momentum, Societe Generale’s FX analysts note.
MACD experiences crisscross moves around its trigger line
“This is also highlighted by the daily MACD, which has turned flattish and has experienced crisscross moves around its trigger line. Short-term price action could remain within a range defined by limits at 20.12/20.00 and 21.00; a break beyond one of these bands is essential to confirm a directional move.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Gold selling pressure persists as traders lock in profits ahead of US NFP reportGold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Gold (XAU/USD) remains under some selling pressure for the second straight day and slides back closer to the overnight swing low during the Asian session on Thursday. The downtick lacks any fundamental catalyst and is likely to remain limited amid a supportive fundamental backdrop.
Silver (XAG/USD) is trading lower in an otherwise calm market session on Thursday.
BTC holds above $90,000, ETH hovers near $3,128 at the 50-day EMA, and XRP steadies above $2.07 as traders weigh rebound targets and key downside levels.
Bitcoin's recovery is in jeopardy with bearish predictions dominating sentiment as traders cite ongoing resistance and technical patterns hinting at further declines.
Related Instrument
