When USD Hits Resistance, That's When USDMXN Will Breakdown
In today's video I will look into a detail analysis of USDMXN, which is doing quite well compared to the strong USD Index. So my assumption is that when USd index will hit resistance, possibly after the 10 year US notes completed the current fifht wave up, the USDMXN can easily break through the support and will be targeting Feb 2020 pandemic low.
Crude oil is also very important for the USDMNX. Price is higher for the last two weeks as the situation between Russia and Ukraine is getting worse. OPEC also decided in its first one-on-one meeting since 2020 to cut production by up to 2 million barrels per day from November. So it appears that EU will not have easy task to limit the energy prices.
If you like this video, please leave me a comment below and press like.
Thank you
Grega
Crude oil is also very important for the USDMNX. Price is higher for the last two weeks as the situation between Russia and Ukraine is getting worse. OPEC also decided in its first one-on-one meeting since 2020 to cut production by up to 2 million barrels per day from November. So it appears that EU will not have easy task to limit the energy prices.
If you like this video, please leave me a comment below and press like.
Thank you
Grega
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