Overall, the dollar reacted positively to strong job data at the end of last week because that suggests the American economy isn’t as weak as had been feared. However, ongoing gains by the greenback have been absent in most pairs as it remains technically overbought with few exceptions. The very clear resistance on this chart…
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Looking at the chart, a breakout in either direction still doesn’t seem especially likely. The double top around Mex$20.85 last month and earlier this month would usually be seen as a sell signal, but the main support around Mex$19.70 is also strong given that it has remained unbroken since February 2020 despite repeated testing since…
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Price seems to have broken through the 61.8% area of the weekly Fibonacci fan with two daily closes in succession above this area. Moving averages still give a sell signal, but the value area between the 100 and 200 SMAs has shrunk considerably. Movement above this area might signal more gains to come for the…
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Widely reported on mainstream media outlets was the billions lost during the U.S. election day sell-off by the world's richest people. The UK's Sun has reported in particular and in a joking way, that Mexico's richest people have lost enough money since the U.S. election to build Donald Trump’s proposed border wall. The world’s richest people…
Read moreCySEC regulated forex broker Orbex is announcing today they are adding two sets of new trading instruments. Orbex launched today cash indices on Dow Jones, Nasdaq, S&P and DAX that are offered with low margin requirements, non-expiring contracts, fixed spreads, and zero commission charges. The new indices are replacing the broker's regular equity indices of which the last traded contract will…
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