So, the week has come to the end. Let’s check the results of our Forex market analysis.
USD/MXN. We had expected the pair to rebound towards the 19.2994 (19.3000) level
Unfortunately, there was no rebound. The pair continued to consolidate at the 19.07 level, and there was a following downward movement below 19.00. At the moment, there is a probablity of a rebound and an upward movement, which lets us consider going long at the breakout level of 19.0770.
USD/CAD. We had expected the pair to grow to 1.3455.
The target has not been reached yet. However, there is still growth potential. Therefore, to open a long position, one needs to wait until the upward movement resumes, just like in the case mentioned above.
We recommended that you pay attention to these two currency pairs. We suggested shorting NZD/CHF with the decline target of 0.6764. The expected decline target on the NZD/CAD chart was the 0.9019 level.
The NZD/CHF chart reached the target. Moreover, the reversal of the currency pair brought it back to the level of 200MA, which is 0.6720.
The NZD/CAD pair also fully realized its potential of moving downwards. The chart reached the target at 0.9019.