USD/MXN Analysis Today - 4/11: FX Gap, Still High (Chart)

(MENAFN- Daily Forex) The USD/MXN sold off this morning as trading began, but the currency pair remains rather comfortably above the 20.00000, this as a sea of volatility gets ready to unleash USD/MXN is near the 20.13000 level at the time of this writing who are enticed to speculate today and into the next few days need to understand they will be participating in potentially volatile markets which could prove very dangerous, this week might be the climax of the trading year for financial institutions, but day traders need to understand they will only be able to ride on the coattails of momentum created by large players. And the large players are going to affected by volatility too. Top Forex Brokers 1 Get Started 74% of retail CFD accounts lose money Read Review BrokerGeoLists({ type: \u0027MobileTopBrokers\u0027, id: \u0027mobile-top-5\u0027, size: 5, getStartedText: \u0060Get Started\u0060, readReviewText: \u0060Read Review\u0060, Logo: \u0027broker_carrousel_i\u0027, Button: \u0027broker_carrousel_n\u0027, });Not only is the U.S election being held tomorrow, but two days later the U.S Federal Reserve will release its interest rate decision and offer their FOMC rhetoric. Traders of the USD/MXN saw rather volatile conditions late last week and this week will be worse. The ability of the USD/MXN to sink on the poor jobs numbers released on Friday, then reversing higher and achieving an apex value not seen since 2022 should be an indication to all the currency pair is not trading in a normal market Results and Plenty of Velocity in the USD/MXNSpeculators who insist on trading today and throughout this week should consider quick hitting positions in the USD/MXN. The reversals seen on Friday before going into the weekend shows the amount of nervousness regarding the currency pair is high in financial institutions. The USD/MXN has traded higher the past handful of months, and this week\u0026rsquo;s trading may be one of the more dramatic durations for the currency pair regarding volatility sentiment is fragile in the USD/MXN. The ability to produce a gap lower in early trading this morning shows a correlation to the USD remains alive. The USD/MXN has been testing highs however, and while the move lower this morning is a healthy sign because it indicates financial institutions have reacted to the potential interest rate cut from the U.S Fed later this week, the currency pair still remains within in an apex price range to the new U.S President for the USD/MXNThe outcome of the U.S election is going to have a significant effect on the USD/MXN exchange pair. Traders of the currency pair need to understand the relationship that exists between the U.S and Mexico regarding commerce institutions will react to the winner of the White House and the USD/MXN may generate a huge amount of volatility as behavioral sentiment and clarity strive for a new equilibrium traders who are tempted to wager on the outcome of the U.S vote need to use very limited leverage, be ready for fast price action, and have a price target in mind that takes them out of an active trade will flourish over the near-term and risk taking tactics in the USD/MXN need to be thought out with precision/MXN Short Term Outlook:Current Resistance: 20.14600Current Support: 20.10300High Target: 20.23400Low Target: 19.97100 EURUSD Chart by TradingView

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