Here are the key factors to keep in mind today for US Dollar trades:
US JOLTS Job Openings: US JOLTS Job Openings for August a predicted at 7.191M. Forex traders can compare this to US JOLTS Job Openings for September which were reported at 7.217M.
US Wholesale Inventories and Trade Sales: US Final Wholesale Inventories for August are predicted to increase by 0.4% monthly. Forex traders can compare this to previous US Wholesale Inventories for August which increased by 0.4% monthly. US Wholesale Trade Sales for August are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Trade Sales for July which increased by 0.3% monthly.
FOMC Minutes: The US Federal Reserve will release minutes from its last meeting today and forex traders will look for any potential change in the wording used which could give insight to future monetary policy adjustments.
Here is the key factor to keep in mind today for Mexican Peso trades:
Mexican CPI: The Mexican CPI for September is predicted to increase by 0.25% monthly and by 2.99% annualized. Forex traders can compare this to the Mexican CPI for August which was reported flat at 0.00% monthly and which increased by 3.16% annualized. The Mexican Core CPI for September is predicted to increase by 0.29% monthly. Forex traders can compare this to the Mexican Core CPI for August which increased by 0.20% monthly. The Mexican Bi-Weekly CPI for the week ending September 30th is predicted to increase by 0.10% monthly and by 2.98% annualized. Forex traders can compare this to the Mexican Bi-Weekly CPI for the week ending September 16th which increased by 0.17% monthly and by 2.99% annualized. The Mexican Bi-Weekly Core CPI for the week ending September 30th is predicted to increase by 0.09% monthly. Forex traders can compare this to the Mexican Bi-Weekly Core CPI for the week ending September 16th which increased by 0.19% monthly.
Should price action for the USDMXN remain inside the or breakdown below the 19.5050 to 19.6530 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 19.6050
Take Profit Zone: 19.1900 – 19.3185
Stop Loss Level: 19.7425
Should price action for the USDMXN breakout above 19.6530 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 19.7425
Take Profit Zone: 19.9890 – 20.2545
Stop Loss Level: 19.6530
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. There are many different forex trading strategies available, but did you know that with all of them you will earn more pips per trade at PaxForex? Sign-up now and find out for yourself!
US JOLTS Job Openings: US JOLTS Job Openings for August a predicted at 7.191M. Forex traders can compare this to US JOLTS Job Openings for September which were reported at 7.217M.
US Wholesale Inventories and Trade Sales: US Final Wholesale Inventories for August are predicted to increase by 0.4% monthly. Forex traders can compare this to previous US Wholesale Inventories for August which increased by 0.4% monthly. US Wholesale Trade Sales for August are predicted to increase by 0.2% monthly. Forex traders can compare this to US Wholesale Trade Sales for July which increased by 0.3% monthly.
FOMC Minutes: The US Federal Reserve will release minutes from its last meeting today and forex traders will look for any potential change in the wording used which could give insight to future monetary policy adjustments.
Here is the key factor to keep in mind today for Mexican Peso trades:
Mexican CPI: The Mexican CPI for September is predicted to increase by 0.25% monthly and by 2.99% annualized. Forex traders can compare this to the Mexican CPI for August which was reported flat at 0.00% monthly and which increased by 3.16% annualized. The Mexican Core CPI for September is predicted to increase by 0.29% monthly. Forex traders can compare this to the Mexican Core CPI for August which increased by 0.20% monthly. The Mexican Bi-Weekly CPI for the week ending September 30th is predicted to increase by 0.10% monthly and by 2.98% annualized. Forex traders can compare this to the Mexican Bi-Weekly CPI for the week ending September 16th which increased by 0.17% monthly and by 2.99% annualized. The Mexican Bi-Weekly Core CPI for the week ending September 30th is predicted to increase by 0.09% monthly. Forex traders can compare this to the Mexican Bi-Weekly Core CPI for the week ending September 16th which increased by 0.19% monthly.
Should price action for the USDMXN remain inside the or breakdown below the 19.5050 to 19.6530 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 19.6050
Take Profit Zone: 19.1900 – 19.3185
Stop Loss Level: 19.7425
Should price action for the USDMXN breakout above 19.6530 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 19.7425
Take Profit Zone: 19.9890 – 20.2545
Stop Loss Level: 19.6530
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. There are many different forex trading strategies available, but did you know that with all of them you will earn more pips per trade at PaxForex? Sign-up now and find out for yourself!