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LATAM FX: LATAM FX Price Signal Summary - USDCLP Trend Needle Points North

LATAM FX
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  • The trend condition in USDMXN is unchanged and remains bullish. However, attention is on the Nov 6 pullback and the follow through on Nov 7. This continues to highlight a possible short-term top and therefore a bearish threat. Price has traded through the 20-day EMA, exposing support at the 50-day EMA, at 19.9353. A clear breach of the 50-day EMA, would signal potential for a deeper retracement towards 19.0666, the Sep 18 low. Resistance to watch is at 20.8072, the Nov 6 high. Clearance of this hurdle would confirm a resumption of the uptrend. This would open the 21.00 handle.                                                
  • USDBRL is in consolidation mode and continues to trade closer to its recent trend highs. A bull cycle remains in play and a short-term pullback would be considered corrective. Support to watch lies at 5.6817, the 50-day EMA. A clear breach of this level would signal scope for a deeper retracement, towards 5.5586, the Oct 11 low. Key resistance and the bull trigger is at 5.8750. Clearance of this level would open 5.9054, the 1.618 projection of the Aug 19 - 30 - Sep 19 price swing.          
  • A bull cycle in USDCLP remains in play and the pair is trading closer to its recent highs. Resistance at 966.61, the Aug 5 high and a key short-term hurdle for bulls, has recently been breached. This opens 990.67, the Feb 26 high, ahead of the psychological 1000.00 handle. Initial firm support lies at 968.79 the 20-day EMA. A break would expose 953.65, the 50-day EMA.
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  • The trend condition in USDMXN is unchanged and remains bullish. However, attention is on the Nov 6 pullback and the follow through on Nov 7. This continues to highlight a possible short-term top and therefore a bearish threat. Price has traded through the 20-day EMA, exposing support at the 50-day EMA, at 19.9353. A clear breach of the 50-day EMA, would signal potential for a deeper retracement towards 19.0666, the Sep 18 low. Resistance to watch is at 20.8072, the Nov 6 high. Clearance of this hurdle would confirm a resumption of the uptrend. This would open the 21.00 handle.                                                
  • USDBRL is in consolidation mode and continues to trade closer to its recent trend highs. A bull cycle remains in play and a short-term pullback would be considered corrective. Support to watch lies at 5.6817, the 50-day EMA. A clear breach of this level would signal scope for a deeper retracement, towards 5.5586, the Oct 11 low. Key resistance and the bull trigger is at 5.8750. Clearance of this level would open 5.9054, the 1.618 projection of the Aug 19 - 30 - Sep 19 price swing.          
  • A bull cycle in USDCLP remains in play and the pair is trading closer to its recent highs. Resistance at 966.61, the Aug 5 high and a key short-term hurdle for bulls, has recently been breached. This opens 990.67, the Feb 26 high, ahead of the psychological 1000.00 handle. Initial firm support lies at 968.79 the 20-day EMA. A break would expose 953.65, the 50-day EMA.