The next days will be decisive for
USDMXN
now that NAFTA talks have officially begun. In the chart there are 4 relevant price levels (shown in bold green). And 2 short-term price levels (in thin red).
Events that would favor the first scenario would be:
While the second scenario would be more likely in the event of:
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"In the business world, the rearview mirror is always clearer than the windshield. " - Warren Buffett
USDMXN
now that NAFTA talks have officially begun. In the chart there are 4 relevant price levels (shown in bold green). And 2 short-term price levels (in thin red). - If the price breaks the short-term resistance at 18.04 then we would likely see the price reaching 18.40 or even 19.28 if NAFTA negotiations don't favor Mexico.
- If the price breaks the short-term support at 17.48 then we may expect the price to reach the Pre-Trump support level at at 17.16.
Events that would favor the first scenario would be:
- A full withdrawal from the NAFTA deal.
While the second scenario would be more likely in the event of:
- A soft NAFTA "tweak".
- An increased feeling of a "Trump's failed agenda".
- An armed conflict between the US and North Korea.
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"In the business world, the rearview mirror is always clearer than the windshield. " - Warren Buffett