Ichimoku Kinko Hyo EUR/JPY: The EUR/JPY pair is now testing the lower level of the cloud…
MXN: historical depths
Information is not investment advice
Performance in 2020: +20%
Last day range: 22.45 – 22.83
52-week range: 18.51 – 23.06
Even if you open a monthly chart, you will not be able to link the current position of the USD/MXN to any point before. Trading at 22.60, this currency pair is at the all-time highs.
As the chart shows, this is a very recent move. It was fueled by the coronavirus-related events and the oil price war. However, it doesn’t mean that the factors pressing on the Mexican peso have just appeared – this currency has been chronically losing its value to the US dollar due to the fundamental weakness of the Mexican economy compared to its northern partner. This weakness has just gained stronger momentum and got propelled to a higher level than before.
Given the current circumstances, there are all the reasons to see the USD/MXN going higher, although a downward correction is to be expected in the short term before the next leap up.
Ichimoku Kinko Hyo CHF/JPY: The CHF/JPY pair is now testing the upper level of the cloud…
Ichimoku Kinko Hyo GBP/JPY: The GBP/JPY pair is now trading within the cloud…
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!