USD/MXN 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The recent recovery in the Mexican Peso against the US Dollar is represented by a descending channel pattern. However, the pattern is about to become obsolete, as the currency exchange rate has already reached a larger scale ascending channel's lower trend line and rebounded against it. Due to that the Greenback is set to continue its surge against the Mexican Peso. In addition, the US Dollar is already oversold against the Peso, as 73.47% of trader open positions are short. Although, this currency pair has been more affected by the fundamental events in North America. Because of that traders are advised to combine technical and fundamental analysis, while trading the USD/MXN currency pair.
© Dukascopy Bank SA
Back to articles

Actual Topics

Wed, 01 Feb 2017 09:10:09 GMT

AUD/CHF 1H Chart: Channel Down

After a year of mostly consolidative movements, AUD/CHF almost touched the 2016 high of 0.7645 once again in January and then proved the levels to be unsustainable by starting a downfall and ultimately entering a small-scale channel down a few days ago. The pair is currently attempting the upper trend-line of the channel at 0.7505 and we will look for

Tue, 31 Jan 2017 11:09:00 GMT

HKD/JPY 4H Chart: Channel Down

The Hong Kong Dollar is trading in a descending channel pattern against the Japanese Yen. The interesting fact is that this channel is a result of the pair breaking out of a much steeper medium term descending channel. The breakout occurred due to additional support provided by the 38.20% Fibonacci retracement level, which is located at 14.5390. The Fibonacci retracement

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.