Weekly Binary Market Review 19 November

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Weekly Binary Options Review (Jan 15 – Jan 19)

In this article, we would like to present the review of the binary options market during the period from Jan 15 to Jan 19, targeting the prospects of major instruments.
The beginning of this week brought no significant economic announcement, therefore, the market mainly traded following technical analysis. The Greenback’s bearish momentum since the previous week remained vigorous, leading most of the currency – USD pairs to head higher.

This Tuesday saw UK’s CPI y/y come in at 3.0% exactly as economists had forecasted, 0.1% lower from its prior release of 3.1%. The British Pound – US Dollar showed signs of vulnerability on the report but then quickly gained back its bullish momentum, finishing the day higher than its open.
In a separate development, Swiss National Bank Chairman Thomas Jordan continued to endorse a wait-and-see approach, saying that “negative rates still needed” in his speech regarding monetary policy. Despite so, USD/CHF’s bullish momentum was overwhelmed since USD bears remained extremely aggressive, causing the currency pair to tumble and remove all its gain made earlier.

Wednesday witnessed Bank of Canada President Stephen Poloz enter the spotlight raising borrowing costs 0.25% against the backdrop of improved economic outlook – recent data climbed robustly along with inflation target almost reached. Nevertheless, this optimistic announcement was seemingly priced-in, and the Greenback – Loonie amounted to wobble on it. In all likelihood, lots of binary options traders have been dumbfounded by the USD/CAD reaction.
Thursday this week brought a series of important data releases with Australia’s Employment Change and Unemployment Rate sparking off the day’s excitement first. The Employment data was affirmed +34.7K which was only half of the November figure, while the Unemployment rate increased to 5.5% from 5.4%. However, the Australian Dollar shrugged off both reports and strongly advanced against the Greenback. AUD/USD callers have definitely been celebrating on this unexpected victory.

Meanwhile, CNY bulls also found a great day because China’s GDP q/y held steady at 6.8% instead of slipping to 6.7% as analysts had calculated. Most of the CNY – currencies traded higher in reaction to the release.

U.S. Building Permits were announced in Thursday’s New York trading session, remaining at 1.30M. The data did little impact on the Greenback.
Thursday also witnessed Crude Oil Inventories print an acrimonious decrease to -6.9M from the previous report of -4.9%, smashing trader’s expectations for a rise to -1.4M. Oil prices immediately traded lower in response to the report.

By the end of the week, there was only U.K. Retail Sales come in. The Pound Sterling has spent a day tumbling versus its FX counterparts since the data sharply decreased to -1.5% from 1.0%, well underperforming economist’s forecasts.

This week recorded a highly pessimistic affair for the world’s most popular cryptocurrency. BTC/USD has penetrated below the significant support level at $13,000, plunging straight to $9,000 per Bitcoin. The coin then rallied as bulls were back in play, trading around $11,500 at the time of writing.

One more step

Please complete the security check to access www.leaprate.com

Why do I have to complete a CAPTCHA?

Completing the CAPTCHA proves you are a human and gives you temporary access to the web property.

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Another way to prevent getting this page in the future is to use Privacy Pass. You may need to download version 2.0 now from the Chrome Web Store.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Cloudflare Ray ID: 5814112e7be28eef • Your IP : 91.105.238.94 • Performance & security by Cloudflare

USDMXN – Weekly Outlook- December 19 2020

USDMXN Outlook & Technical Analysis for binary options

Introduction

Traders generally favor trading the USD to Mexican peso on binarycent broker site due to its high volatility and decisiveness when a trend signal is signaled.

In this post, we’ll be taking a closer look at the technical and macroeconomic news driving the USDMXN in a southbound direction.

Mexico GDP

The GDP is an evaluation of the annual changes in the inflation-adjusted value of all services and goods created by the country’s economy.

A bullish trend can be expected for the MXN when the data released is higher than anticipated. If the data published is less than forecasted, then traders can expect a bearish trend for the currency.

Following the latest data published on November 25, traders can expect a bearish trend for the MXN as the data points the exact reading to be -0.3%, previous, and forecast reading to be -0.4%.

U.S. Existing Home Sales

The Existing Home Sales index is a measurement of variations in the number of existing residential buildings sold during the previous month. The report is evaluated annually, and it helps to determine the strength of the U.S. housing market.

An upbeat trend can be expected for the USD when the data released is higher than anticipated. If the data published is less than forecasted, then traders can expect a bearish trend for the currency.

Following data released on November 21, traders can anticipate an upbeat trend for the USD as the data shows the actual reading to be 5.46M, previous reading to be 5.36M, and the forecast data to be 5.47M.

USDMXN Technical Analysis

Monthly Chart

Following our usual top-down analysis approach, we start with the monthly time frame, where the pair now appears to break below the symmetrical triangle after setting support on July 01 ’19 (18.86446).

A price close below the 18.86446 support will confirm the bearish scenario. On the other hand, we should look out for a price recoil to the upside from this level.

Let’s move to the lower time frames and get a different view of the price dynamics.

Weekly Chart

The USDMXN from a weekly chart perspective is in a bearish trend-setting lower highs on August 26 ’19 (20.25739), September 30 ’19 (19.86202), and November 25 ’19 (19.65940).

A close below the double accumulation of bullish support levels (November 18 & 25), the USDMXN shows a strong bearish trend. The 200-weekly Moving Average is also breached, further highlighting the bearish outlook.

The bearish trend is speculated to continue into the remaining weeks of the year 2020.

USDMXN Medium Term Projections: Bearish

Daily Time Frame

A hidden bearish divergence pattern flagged on December 04, 2020, offered a precise entry-level to enter a shot entry on December 04, 2020 (19.43546) and has so far declined by about (-2.71%).

The only hope for a bullish trend will surface if the current MACD level fails to move below the October 27 low, therefore forming a regular bullish divergence. On the contrary, we should look out for further price plunge, as there are no signs of price recovery at press time.

4HR Chart

Like most market crashes, the regular bearish divergence patterns on November 21 ’19 06:00 and November 28 ’19 18:00 switched the market sentiment from bullish to bearish after a combination with a collapse of bullish support on the same date.

The dollar to pesos rate plunged by (-3.40%) in favor of the Mexican peso. A hidden bearish divergence setup on December 11 ’19 14:00 forced the pair to resume the bearish trend.

Conclusion

Although the 4hour time frame shows a regular bullish divergence for a switch to the upside, the same MACD builds up an impending hidden bearish divergence pattern that will likely send the pair crashing south on the same 4hour time frame.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Like this post? Please share to your friends:
Binary Options: How To Start Trading
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: