News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • “The UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here:
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here:
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here:
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead:
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:
  • Triangle patterns have three main variations and appear frequently in the forex market. These patterns provide traders with greater insight into future price movement and the possible resumption of the current trend. Learn about triangles here:
  • Continuation patterns can present favorable entry levels to trade in the direction of the prevailing trend. Use continuation patterns in your technical analysis here:
Bearish USD/MXN: Post-Brexit Risk-On Rally Likely To Favor EMFX

Bearish USD/MXN: Post-Brexit Risk-On Rally Likely To Favor EMFX

2016-06-30 17:35:00
Tyler Yell, CMT, Currency Strategist

Point to Establish Short Exposure: Stop Sell Order on Break < 18.000

Spot: 18.44

Target 1: 17.1000 April 29 Low

Target 2: 16.500 October – November Price Support

Invalidation Level: 18.85 Friday (Post-Brexit) Close

To receive Tyler’s analysis directly via email, please SIGN UP HERE

Less than a week after the historic vote from the UK to leave the European Union (also known as Brexit), risk assets continued in their second largest Bull market in history. The FTSE 100 (CFD: UK100) was trading above its pre-Brexit high on Thursday before Mark Carney, Governor of the Bank of England warned that they would likely need to ease monetary policy this summer. The Bank of England Governor’s announcement helped further propel assets like equities, emerging markets, and some commodities.

Later on Thursday, there was a source from the European Central Bank, who noted that the ECB might be looking to expand their QE as the number of assets they were originally limited in buying may soon hit its upper limit due to the implications of the Brexit vote.

While this may seem like an odd way to begin a trade idea about USD/MXN, it paves the way for a clear theme, Quantitative Easing that supports Emerging Markets is alive and well, and may, in fact, be expanding. Such an environment could help bring further appreciation for non-Central and Eastern Europe, Middle East & Africa (CEEMEA FX) currencies like the MXN.

Lastly, we’ve seen the market push out expectations of the next Federal Reserve Rate Increase. Historically, higher interest rates tend to put pressure on Mexico’s economy and weaken the Peso. Therefore, lower for longer may be a nice boon to the Peso vs. the US Dollar as G4 Central Banks continue to look for ways to stimulate global growth.

USD/MXN May Have Seen a Double-Top On The Post-Brexit Fears

Bearish USD/MXN: Post-Brexit Risk-On Rally Likely To Favor EMFX

Key Technical Levels:

USD/MXN – Trying To Break Through Important Support of ~18.000

2nd Resistance: 19.54 Weekly R1 Pivot

1st Resistance: 18.85 Friday (Post-Brexit) Close

Spot: 18.44

1st support: 17.1000 April 29 Low

2nd support: 16.500 October – November Price Support

Trade Setup:

I am looking to sell USD/MXN at the market with a stop above the close of Friday (Post-Brexit) at 18.85 should USD/MXN break below the late-May low of 18.00. Initial targets currently sit at 17.100 and would be followed by a move down toward the late-2015 lows of ~16.5000. A trailing stop would be used above an opposing up-fractal on the daily chart. The trade is aligned with a favorable risk: reward ratio that our Traits of Successful Traders report found to be one of the best things a trader can do to ensure long-term sustainability in your trading.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.