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
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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Commodities Update: As of 08:00, these are your best and worst performers based on the London trading schedule: Gold: -0.34% Oil - US Crude: -1.07% Silver: -2.30% View the performance of all markets via
  • Brush up your knowledge on #tradewars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here:
  • Forex Update: As of 08:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.07% 🇨🇭CHF: -0.26% 🇬🇧GBP: -0.28% 🇦🇺AUD: -0.29% 🇪🇺EUR: -0.32% 🇳🇿NZD: -0.58% View the performance of all markets via
  • 🇪🇸 Unemployment Change (FEB) Actual: 44.4K Previous: 76.2K
  • Indices Update: As of 08:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.28% France 40: -0.30% Germany 30: -0.30% Wall Street: -0.41% US 500: -0.55% View the performance of all markets via
  • Heads Up:🇪🇸 Unemployment Change (FEB) due at 08:00 GMT (15min) Previous: 76.2K
  • #Bitcoin, #Ethereum Forecast: BTC/USD, ETH/USD Bullish Reversal at Hand? - $BTC $ETH $BTCUSD $ETHUSD
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here. #DailyFXGuides
  • 🇩🇪 Retail Sales YoY (JAN) Actual: -8.7% Expected: 1.3% Previous: 2.8%
  • 🇩🇪 Retail Sales YoY (JAN) Actual: -8.7% Expected: 1.3% Previous: 1.5%
USD/MXN – US Dollar Shreds Mexican Peso, Major Reversal Coming?

USD/MXN – US Dollar Shreds Mexican Peso, Major Reversal Coming?

Paul Robinson, Strategist

USD/MXN Highlights:

  • USD/MXN pops back strongly on USD strength, rise in uncertainty
  • The path is still overall lower, but a reversal could shake that outlook

USD/MXN remains very heavy, ready for new cycle lows

Yesterday, USD/MXN popped back strongly to its highest levels since the beginning of the month with the combination of a strong USD and selling in stocks. It is still mired in a choppy downtrend, but given the velocity at which it came back it could mark the beginning of a reversal.

Last week, I was sticking with a generally soft outlook, but did have this to say about the upside: “To dampen the bearish outlook, a strong rally (likely driven by risk-off) is needed to push USD/MXN at least above 18.97. This won’t turn the picture broadly bullish given price will still be outside the wedge, but it will help build the case for further upside, or at the very least keep shorts at bay.”

With 18.97 around the bend, and the trend-line from the top of the August move coming into approximate confluence, we could be on the verge of a big test in levels, trend, and the 3-yr triangle formation. A break into the 19s could really put USD/MXN in the driver seat.

If this were to be the case, the macro triangle that USD/MXN broke down out of in December against the long-term trend could be on the verge of getting reversed. As pointed out in a USD/MXN piece in December, the breakdown of the three-year-long triangle has been unfolding (in slow motion) against the primary long-term uptrend, which elevates the risk that this initial downside break could be a false one.

A rally into the 19s and then back inside the triangle could really light a fire for a top-side breakout that turns into a sustainable move to the upside. This is of course only a potential scenario at this time. We have seen USD/MXN get jumpy recently only to reverse lower again, but with macro-risks rising and price action like we saw in USD/JPY this week, there appears to be a higher-than-usual chance that a top-side move begins to grow legs.

USD Forecast
USD Forecast
Recommended by Paul Robinson
Check out the Q1 USD Forecast
Get My Guide

USD/MXN Daily Chart (>19 would be big)

USD/MXN daily chart

USD/MXN Chart by TradingView

USD/MXN Weekly Chart (break against long-term trend at risk of reversing)

USD/MXN weekly chart

USD/MXN Chart by TradingView

***Updates will be provided on the above thoughts and others in the trading/technical outlook webinars held at 1030 GMT on Tuesday and Friday. If you are looking for ideas and feedback on how to improve your overall approach to trading, join me on Thursday each week for the Becoming a Better Trader webinar series.

Resources for Forex & CFD Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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