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LATAM FX: LATAM FX Price Signal Summary – USCLP Corrective Bear Cycle Extends

LATAM FX
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  • A volatile session marked Monday’s activity in USDMXN. The  trend structure remains bullish and the move above 20.9382, the Jan 17 high, marks a resumption of the uptrend. The move higher also highlights the possible end of a sideways trend that has been in place since early November 2024. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. The focus is on a climb towards 21.4007 and 21.5807, the 3.00 and 3.236 projections of the Sep 18 - Oct 1 - 4 ‘24 price swing. Key support has been defined at 20.1343, the Jan 24 low. A break of this level would highlight a potential reversal.    
  • The USDBRL medium-term bull cycle is intact, however, a corrective cycle remains in play and this signals scope for a continued retracement. The 50-day EMA has been breached and this has been followed by a break of 5.8675, the Dec 12 low. Sights are on  5.7231, the Nov 13 ‘24 low. On the upside, a reversal would refocus attention on 6.3165, the Dec 18 high and the bull trigger. Initial resistance is at 5.9528, the 50-day EMA.   
  • A medium-term uptrend in USDCLP remains in play and recent weakness is considered corrective. The pair has breached the 50-day EMA. A clear break of the average highlights potential for a deeper retracement and open 966.86, the Dec 6 low. Clearance of this level would open the 960.00 handle. For bulls, a resumption of gains would refocus attention on 1020.18 and 1026.48, the 1.236 and 1.382 projection points of the Nov 7 - 12 - Dec 6 price swing. Initial resistance to watch is 990.92, the 20-day EMA.
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  • A volatile session marked Monday’s activity in USDMXN. The  trend structure remains bullish and the move above 20.9382, the Jan 17 high, marks a resumption of the uptrend. The move higher also highlights the possible end of a sideways trend that has been in place since early November 2024. Moving average studies are in a bull-mode position, highlighting a dominant uptrend. The focus is on a climb towards 21.4007 and 21.5807, the 3.00 and 3.236 projections of the Sep 18 - Oct 1 - 4 ‘24 price swing. Key support has been defined at 20.1343, the Jan 24 low. A break of this level would highlight a potential reversal.    
  • The USDBRL medium-term bull cycle is intact, however, a corrective cycle remains in play and this signals scope for a continued retracement. The 50-day EMA has been breached and this has been followed by a break of 5.8675, the Dec 12 low. Sights are on  5.7231, the Nov 13 ‘24 low. On the upside, a reversal would refocus attention on 6.3165, the Dec 18 high and the bull trigger. Initial resistance is at 5.9528, the 50-day EMA.   
  • A medium-term uptrend in USDCLP remains in play and recent weakness is considered corrective. The pair has breached the 50-day EMA. A clear break of the average highlights potential for a deeper retracement and open 966.86, the Dec 6 low. Clearance of this level would open the 960.00 handle. For bulls, a resumption of gains would refocus attention on 1020.18 and 1026.48, the 1.236 and 1.382 projection points of the Nov 7 - 12 - Dec 6 price swing. Initial resistance to watch is 990.92, the 20-day EMA.