Our free forex signals service trade today is a buy order on the USD/MXN pair. The USD/MXN price moves somehow sideways in the short term. Also, it has developed a potential Falling Wedge pattern which could announce that the downside movement ended. Still, we need strong confirmation before considering going long. At the time of writing, the bias remains bearish. Only a larger rebound registered by the Dollar Index could really announce a larger growth on the USD/MXN pair. In the short term, the currency pair continues to be bearish after the US retail sales data came in worse than expected on Friday. Get FREE Forex Signals Now! 3 Free Forex Every Week – Full Technical Analysis Also, Industrial Production, Prelim UoM Consumer Sentiment, and the Capacity Utilization Rate indicators reported worse than expected data as well. Today, the US banks are closed in observance of Martin Luther King Day. Technically, the pair stands below strong upside obstacles, so the bearish pressure remains high as long as it stays under these obstacles. US Empire State Manufacturing Index Fundamentally, the US is to release the Empire State Manufacturing Index tomorrow. The indicator is expected at 25.0 points versus 31.9 expected. Still, I don’t think that it will have an important impact. As you can see on the h4 chart, the rate could develop a strong leg higher only if it makes a valid breakout above the downtrend line and above the weekly pivot point 20.365. Free forex signals – BUY USD/MXN at 20.386 Free forex signals entry price and takes profit Instrument: USD/MXN Order Type: BUY STOP Entry price: 20.386 Stop Loss: 20.265 TP1: 20.626 My Risk: 1% Risk / Reward Ratio: 1:2 Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns Forex Trading Signals share Read Next USD/CAD Price Resists Losses at 1.25 Despite Oil Price Rally Saqib Iqbal 11 months Our free forex signals service trade today is a buy order on the USD/MXN pair. The USD/MXN price moves somehow sideways in the short term. Also, it has developed a potential Falling Wedge pattern which could announce that the downside movement ended. Still, we need strong confirmation before considering going long. At the time of writing, the bias remains bearish. Only a larger rebound registered by the Dollar Index could really announce a larger growth on the USD/MXN pair. In the short term, the currency pair continues to be bearish after the US retail sales data came in worse than… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
