Chart of the day: EUR/MXN

Blake Morrow Forex Analytix

The EUR/MXN was bid across the board today, and the EUR/MXN was no different. The risk is a break of the 26.4700 could be a bullish development which could allow for a move back tot he 27.5700 127% extension if a breakout occurs. Likely, this would coincide with some "risk off" if it were to happen. So, if the EUR/MXN is breaking out, you may want to keep an eye on the the $SPX or other equity markets as downside may pickup some selling pressure as well.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

EUR/USD flat lines below 1.1900; divergent Fed-ECB expectations offer support

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