Stocks try to recover today from the heavy blow that they received yesterday. American Dollar is significantly weaker and the focus of the market participants slowly shifts towards the ECB decision on Thursday. In few hours we will get a small aperitif from the BoC with their rate statement.
Gold is doing what is generally expected – climbing higher. In addition to that, the upswing is very technical, especially with yesterdays bounce from the support created by the highs from 29th of August and 1st of September. 1380 USD/oz is on the horizon.
Potentially lucrative trading opportunity is emerging on the USD/MXN chart where the price is forming a long-term symmetric triangle pattern. Breakout here should show a direction and trigger a mid-term trading signal.
Bullish sentiment on the Oil was described in our analysis on Monday. Since that, the price rose almost 2 USD/bbl and broke the 50% Fibonacci resistance. The next target is the 61,8% Fibo above the 50 USD/bbl.
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Commodities on the run. USDMXN waiting for a breakout
Published 09/06/2017, 07:22 AM
Commodities on the run. USDMXN waiting for a breakout
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