The USD/MXN is near the 20.00000 as of this morning and speculators will have to interpret their technical perceptions carefully.

Short term trading in the USD/MXN has produced slightly consolidated trading. However, the USD/MXN currency pair remains within sight of rather important support levels having demonstrated a solid wave of selling late last week and essentially sustaining lower values. Yes, the past two days did see a moderate step upwards. On the 15^th of August the USD/MXN was trading near a low of 19.81000, which it had last really seen on the 27^th of June.

Currently the USD/MXN is near the 20.00000 mark and showing some ability to remain under this level. Technically the USD/MXN remains in what can be described as its bearish territory, when a one year chart is being inspected. In late May and early June of this year the USD/MXN did test the 19.50000 ratio. What makes this intriguing is the fact the Mexican Peso has been one of the strongest major currencies versus the USD over the past year.

Technical Traders do have a rather fascinating Price Range to Consider

Taking into consideration the ability of the USD/MXN to maintain a rather bearish stance compared with many of the other major Forex pairs, a technical question must be asked. As the price of Crude Oil seems to become more tranquil and financial houses consider the potential that U.S inflation may be lessening does this mean the current trading range of the USD/MXN will produce continued solid trading opportunities?

• Important support for the USD/MXN appears to be the 19.90000 to 19.80000 vicinity, if the lower number is challenged and proves durable this could be make for a worthwhile buying wager.
• Resistance near the 20.15000 ratio should be watched in the near term, if this level is sustained, sellers could be tempted to short the USD/MXN within this vicinity.

Risk Taking Tactics Combined with Solid Technical Short Term Perspective of the USD/MXN

Technical traders who are experienced may enjoy speculating on the USD/MXN.  If the current range of 19.80000 to 20.15000 is maintained it may prove to be solid wagering ground by taking advantage of support and resistance.

Risk taking tactics should include solid entry levels with carefully chosen stop loss ratios. Looking for quick hitting take profit order to cash out winning positions may prove effective with a slightly wider stop loss being used. But that means very conservative leverage should be used by most traders. If the current trading range holds in the near term, it could provide speculative opportunities for those willing to bet on perceived direction.

USD/MXN Short Term Outlook:

Current Resistance: 20.04900

Current Support: 19.91050

High Target: 20.21000

Low Target: 19.76000

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The USD/CAD had a stormy day of trading on Monday and early today suggests speculative forces may be standing by for more price action.

The USD/CAD is trading near the 1.29000 mark as of this writing. Traders are urged to compare the current price of the USD/CAD currency pair as they are reading this article to view differentials. Speculative positions seemingly were ignited yesterday, as financial houses may have been trying to get ahead of the Canadian Consumer Price Index data which will be released later today.

Monday’s Early Lows Abruptly saw Plenty of Buying in the USD/CAD

Early yesterday the USD/CAD was trading near the 1.27750 ratio in a rather comfortable manner. The price action matched values seen on Friday and the USD/CAD seem situated for tranquil trading. However, within a matter of hours the USD/CAD began to challenge the 1.280000 level. When the 1.28000 mark was penetrated a strong burst of buying became evident and a high of 1.29300 was touched rather quickly.

• Inflation data via the Canadian CPI is likely being speculated on by financial houses, via their perceptions regarding the outcome and it is affecting the USD/CAD.
• Traders may choose to be cautious if they do not have positions yet in the USD/CAD, and wait for the CPI results to be published before pursuing the currency pair.

The fact the USD/CAD jumped higher may indicate financial houses are wagering on the anticipated outcome in the Canadian CPI inflation statistics today. However, traders need to be cautious, because if the number comes in higher than expected, the old adage of buy the rumor and sell the fact may come into play. In other words short term speculators should remain conservative if they have weak stomachs and limited funds. Waiting for the result of the CPI to be published could be wise.

The USD/CAD is near important Resistance but has been higher in the past month

If the CPI number meets expectations today, this still may result in choppy trading. The central bank of Canada has been hawkish and is mirroring the U.S Federal Reserve in many respects. However, traders also need to consider that the 1.29250 to 1.29500 marks may be viewed as too high by many financial houses short term.

Yes, the USD/CAD spiked to 1.32000 in mid-July, but is a return of those highs likely in the near term, likely no. If the CPI number is much higher than expected, this could actually make some analyst believe the USD/CAD could go into a selling mode, because the Bank of Canada may have to act strongly with more strident interest rate hikes. Traders should be careful today with the USD/CAD.

Canadian Dollar Short-Term Outlook

Current Resistance: 1.29240

Current Support: 1.28820

High Target: 1.29740

Low Target: 1.27840

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The USD/ZAR has stayed within the lower depths of its five day range and the consolidated price action may create speculative potential for traders.

The USD/ZAR opened its trading early this morning by testing lows again, but actually creating incrementally higher support via a short term technical perspective per its results. The USD/ZAR currency pair touched the 16.41560 ratio to start the day, put in a reversal higher, and then plunged lower again – but this time around only hit the 16.43650 vicinity approximately. As of this writing the USD/ZAR is trading near the 16.56500 mark with rather quick results.

Last Week’s Volatility Shows Signs of Consolidation, but Do Not be Fooled

Trading the last three days of the week produced rather dramatic reactions via the USD/ZAR as the currency pair was hit by dynamic shifts in behavioral sentiment. Except for all of its bluster and ability to trade lower, which brought the USD/ZAR to a low of nearly 16.39000 momentarily on 29^th of July, the pair remains within the higher realms of its long term trading range. Yes, it has sold off and the lower part of its short term realms are being tested, but the USD/ZAR has not escaped the clutches of its bullish mode when a six month chart is examined.

Behavioral Sentiment Shift Geared towards Selling may Take Time to Build

Traders expected to capture selling momentum cannot be blamed, but the direction of the USD/ZAR may prove more complicated than a mere tumble downwards.  The bullish trend of the USD/ZAR has been strong and support levels may prove more durable than anticipated by many. The USD/ZAR is not likely to accelerate to fresh lows instantaneously; it may have to happen via rather challenging choppy conditions. The consolidated range of the USD/ZAR should be tested carefully. Resistance levels near the 16.56000 to 16.58000 ratios should be watched. If they are broken higher, this will cause nervousness.

• If short term resistance levels near the 16.56000 to 16.58000 prove durable over the next couple of days this could be a bearish signal.
• Risk taking tactics while looking for downside momentum may prove worthwhile, but stop loss orders should be considered.

The near term for the USD/ZAR may produce more selling, but traders should not become overly ambitious.  Plenty of risks are still lurking in the shadows regarding the global economic landscape, which could affect the USD/ZAR quickly and cause a buying trajectory to suddenly emerge. However, if Forex and other financial markets remain calm in the short term, selling the USD/ZAR could prove to be a solid wager, but as always it will carry risks.

USD/ZAR Short-Term Outlook

Current Resistance: 16.57100

Current Support: 16.51500

High Target: 16.65600

Low Target: 16.40500

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The NZD/USD is trading within sight of the 0.62670 level, remaining under the key 0.62700 ratio as of this writing.  On the 22^nd of July the NZD/USD currency pair did jump above the 0.63000 briefly, but then started to reverse lower before going into last weekend. As this week began the NZD/USD actually fell to a depth of approximately 0.62148 on Monday. However, yesterday’s anticipated U.S Federal Reserve interest rate delivered plenty of volatility as suspected.

Sharp low and then a Significant Burst Higher Produced Late Yesterday for the NZD/USD

In swift and speculative trading conditions yesterday the NZD/USD traded below the 0.62000 juncture momentarily, but then exploded higher and touched the 0.62700 mark in a blaze of volatile results.  Eventually the NZD/USD traded at a high of nearly 0.62775 before moving lower. This occurred as the U.S Federal Reserve made their interest rate hike of 0.75% to 2.50% official. The NZD/USD sudden test of its higher short term range developed as financial institutions started to digest new pronouncements from the U.S central bank regarding outlook.

• Technically intriguing is the notion yesterday’s burst higher did not topple last Friday’s high for the NZD/USD.
• The remainder of this week for the NZD/USD will likely prove fast and produce choppy conditions as outlook is acted upon.

Technically the NZD/USD offers a keen opportunity for wagers. Traders who have suffered from the nagging feeling the New Zealand dollar has been vastly undervalued in recent months against the USD may feel it is time to start wagering on additional upside price action. The long term bearish trend of the NZD/USD has exhibited immense strength. Could now be the time when the NZD/USD starts to reverse legitimately upwards?

Resistance Levels need to be Monitored and Show they are Durable in the NZD/USD

Speculative bullish positions may prove alluring and a worthwhile wager in the near term.  However the results of the NZD/USD the past nine months are a stern reminder the bearish trend of the currency pair has produced downward action consistently. The NZD/USD was trading near 0.72100 in the last week of October 2021. And then the U.S Federal Reserve stepped in with its series of interest rate hikes.

If the NZD/USD steps above the 0.62700 level soon and begins to sustain upwards momentum, bullish speculators may become ambitious and believe the 0.62725 to 0.62750 will become an easy get. However, few things ever prove easy when participating in Forex for retail traders, risk management will be essential and stop loss order and use of conservative leverage is urged. Traders buying the NZD/USD and looking for upside price action cannot be blamed, but realistic targets are essential to cash out profits when they are made. Using lower support levels which look durable and igniting buying positions could prove the best tactic for speculative buying wagers.

NZD/USD Short-Term Outlook

Current Resistance: 0.62700

Current Support: 0.62604

High Target: 0.62850

Low Target: 0.62540

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SHIB/USD apparently attracted a healthy amount of speculative fuel the past ten days and reached a solid short term high on the 26th of June.

SHIB/USD hit a high of approximately 0.00001209 on the 26^th of June as speculative buying drove the cryptocurrency upwards. On the 18^th of June SHIB/USD was near a depth of 0.00000715. The ability of Shiba Inu to deliver fast results upwards obviously tantalized speculators the past week and half of trading. However, the move higher for SHIB/USD still could prove to be short lived. As of this writing SHIB/USD has sunk to a depth of nearly 0.00000985.

The broad cryptocurrency market is displaying signs of nervousness, and many of the major digital assets have tumbled in value early this morning. After being able to achieve higher prices a few days ago many of the bigger cryptocurrencies began to see incremental selling, and late last night downwards price velocity got quicker, including SHIB/USD.

The momentary rays of upwards sunshine were likely enjoyed by speculative bulls that were able to cash out profits at the short term highs a few days ago.  However, SHIB/USD like the broad cryptocurrency market remains locked in a long term bearish trend and the purely speculative nature of Shiba Inu makes it an interesting barometer of behavioral sentiment. If the broad cryptocurrency market is about to return to another wave of powerful selling, there are plenty of reasons to believe SHIB/USD will not escape this fate.

If SHIB/USD breaks below the 0.00000929 level, another swift round of selling could be ignited. Sellers who want to participate in SHIB/USD need to use entry price orders so their fills meet expectations. Traders also need to use stop loss protection, particularly if they are using leverage which is absurd. Speculators who believe targeting lower depths for SHIB/USD cannot be faulted, and if the 0.00000900 is proven vulnerable and the broad cryptocurrency market grows volatile, SHIB/USD will certainly follow in these footsteps.

Selling SHIB/USD appears to be a worthwhile bet near term. Wagering on SHIB/USD should be done with caution. However, if selling conditions are sparked with large and fast volumes among the major cryptocurrencies again, there is reason to suspect support levels for SHIB/USD will continue to produce vulnerability and lower values for this purely speculative cryptocurrency which depends on behavioral sentiment to maintain its status.

Shiba Inu Coin Short-Term Outlook

Current Resistance: 0.00001028

Current Support: 0.00000929

High Target: 0.00001111

Low Target: 0.00000788

ETH/USD has been able to reverse higher off of extreme lows which were displayed this Saturday, but speculators should remain braced for more volatile conditions.

ETH/USD is trading near 1135.00 as of this writing.  Speculators can double check current prices to monitor the movement Ethereum has demonstrated compared to this article as a way to judge momentum within ETH/USD. After hitting a low of nearly 880.00 this past Saturday, ETH/USD has been able to produce upwards momentum. However, traders who have been attuned to Ethereum over the long term know that a bearish trajectory remains troubling.

If ETH/USD can maintain its current price above the 1100.00 in the short term, that could create the prospect for very speculative bets on upside prospects. However any trader who dares to look for higher movement from ETH/USD will not only have to be brave, but they will need to be using their entire gauntlet of risk taking tactics. Trading in Ethereum today and near term should include entry price, stop loss and take profits orders. Simply put the possibility of ETH/USD suddenly becoming volatile is rather good. Short term moves higher do not guarantee that a solid upwards climb is going to be maintained.

The broad cryptocurrency market remains a dangerous place to speculate. Traders who remain skeptics and believe more downside momentum will be generated within ETH/USD and the other major cryptocurrencies may be making the logical choice, but being able to capture moves lower will also need a solid dose of risk management. Large percentage changes of value can make a trader profitable, but wrong moves can also be costly.

If ETH/USD breaks below the 1100.00 mark this could spark additional selling in ETH/USD.  A move to 1075.00 in Ethereum would not be a welcome site if price velocity bursts forward. Support below the 1050.00 level should be monitored, because if this level proves vulnerable another move to lower depths could develop.  Another move below 1000.00 in the near term would be a bad signal for ETH/USD and greater declines could ensue.

Traders should not be overly ambitious in the current market, they should be willing to cash out profits when they are satisfied, this before watching money vanish into thin air when reversals develop which go against the chosen direction of a desired target. The ability of ETH/USD to climb higher the past couple of days incrementally should serve as strong reminders price movements do not happen in only one direction, even if there is solid trend to observe. 

Ethereum Short Term Outlook:

Current Resistance: 1158.00

Current Support: 1088.00

High Target: 1284.00

Low Target: 933.00

ETH/USD is still within sight of its lowest short-term depths, but the cryptocurrency has been able to display speculative reversals higher which have created choppy conditions.

ETH/USD is trading around the 1200.00 mark as of this writing.  While Ethereum is certainly still able to be viewed close to its lowest depths, reversals higher in the short term have been abundant and made for speculative and choppy conditions. Yesterday’s early low in ETH/USD was approximately 1011.00, which definitely caught the attention of the broad cryptocurrency market.

The long term bearish trend in ETH/USD is loud and clear. Speculators with a taste for adventure could wager on upside when perceived support levels are flirted with and try to capture rebounds upwards, but getting out of buying positions before they run into headwinds remains difficult to time. ETH/USD did reach a high of nearly 1254.00 early this morning, which beat all of yesterday’s highs, but Ethereum was not able to puncture – or even really get close – to the 1280.00 mark which could stir additional speculative hearts.

The move higher across many of the major cryptocurrencies in the past half day may calm the digital asset market temporarily, but all it would take is another dose of selling to reignite the thought that new lows are going to be demonstrated. Short-term support near the 1153.00 should be monitored, sustained trading above this level could spark confidence, but if it is penetrated lower selling shadows could reemerge quickly. The question traders need to confront is just how long they can maintain a position within the choppy conditions which are prevailing.

It is likely that short term trading will produce rather whipsaw effects for speculators.  After the thunderous move downwards which was delivered the past handful of days, a break in the tidal wave lower may be logical. However, if ETH/USD continues to stay within sight of lows hit yesterday and is not able to enjoy a sincerely strong move up and above the 1300.00 level, traders will likely remain suspicious that selling pressure will once again be demonstrated. The question is when?

Short term traders with superb risk taking tactics and the ability to maneuver their leverage conservatively, use entry points, stop and take profit orders wisely could participate in ETH/USD with quick hitting trades trying to take advantage of short term gyrations. The upside may have brief moments of wagering ability. But traders’ who are still skeptical and believe more bearish momentum will be generated, may simply want to wait for resistance to emerge technically and then short Ethereum. ETH/USD will remain extremely dangerous to trade near term and traders need to be cautious.

Ethereum Short-Term Outlook

Current Resistance: 1255.00

Current Support: 1155.00

High Target: 1386.00

Low Target: 970.00

USDT/USD remains under its spoken 1.00 USD mark, and its inability to achieve this level for a while may be igniting speculative considerations.

USTD/USD is trading below 1.000. As the most important stable coin in the cryptocurrency world, Tether proclaims that it functions as a solid fundamental element within for digital assets allowing cryptocurrency businesses to transact USDT/USD with other cryptos to lock in value. However during the past month with the destruction of TerraUSD and its oblivion from the world of stable coins, questions have arisen regarding all the remaining stable coins including Tether.

USDT/USD though appears rather intriguing from a speculative viewpoint because it has found it difficult to achieve the 1.00 USD equilibrium on a steady basis since the 11^th of May. On the 12^th of May USDT/USD sank momentarily to a value of nearly 0.93960000 when fear was rampant in the cryptocurrency world, as a firestorm of selling engulfed the broad market and concerns about stable coins climaxed as TerraUSD failed.

From a speculative consideration USDT/USD is difficult to trade because a lot of leverage will likely be needed by a day trader to get a worthwhile result if they do not have hundreds of thousands of dollars in their account to use, even if the trade moves in the intended direction the trader wants. Entry price orders must be used to make sure fractional differences are fulfilled and there are no unexpected price fills. Also, Tether moves as slow as a snail, so fast results cannot be anticipated. Patience and the ability to withstand the fatigue of transactions costs via overnight trading of USDT/USD would have to be needed too.

Simply put if a speculator wants to sell USDT/USD because they think the so called stable coin can fall further in value, they might be right, but the trader may not have enough time to make the trade profitable because they will likely have to give up before a positive result can be made.   However, if a trader has deep pockets, time and understands the costs involved in speculating on USDT/USD there could be an opportunity to wager on further downside momentum. Folks, this is why hedge funds are the community who is mostly trying to short Tether, they have the money and the time to pursue this option.

Traders who cannot actually speculate on USDT/USD however can use Tether to their advantage. USDT/USD serves as an interesting barometer of the broad cryptocurrency market. The inability of Tether to seriously trade near 1.00000000 in the past few weeks is rather startling and indicates the bearish market has not disappeared in cryptos. As long as USDT/USD remains under the 1.00000000 ratio, it may be a sign selling will remain the stronger force in the digital asset world.

Current Resistance: 0.999371000

Current Support: 0.99890000

High Target: 0.99960000

Low Target: 0.99850000

BNB/USD has climbed higher in early trading this morning and is touching short term support, which will cause technical traders to test their perceptions.

As of this writing, BNB/USD is trading below the 320.0000 mark, but it has traded near the 324.0000 juncture earlier this morning.  On the 27^th of May BNB/USD was trading near the 290.0000 ratio and its incremental climb upwards is intriguing technically. Having touched a low of nearly 225.0000 on the 12^th of May during a frenzy of selling across the broad cryptocurrency market, Binance Coin has recovered rather well.

However, the long term bearish trend which has been shadowing digital assets has certainly continued to have an effect on BNB/USD.  As a cryptocurrency which needs to be used within the Binance ecosystem to transact trading of other digital assets, BNB/USD enjoys a solid amount of volume, but it also remains a highly speculative cryptocurrency.

On the 25^th of May BNB/USD did trade near the 338.0000 but then began to face headwinds and slumped. The result of strong selling after this high was made quickly produced the lows written about above on the 27^th of May. Technical traders who are optimistic buyers do not have much evidence yet that a sudden burst of strong buying is going to puncture the highs seen on the 25^th of May. Until the higher short term resistance levels are brushed aside and significant price velocity is seen in the broad cryptocurrency market, it is likely choppy conditions will prevail in BNB/USD.

Day traders may want to view the 324.0000 to 326.0000 values as rather solid resistance in the short term. If BNB/USD has trouble sustaining a price above the 320.0000 level in the short term, this may be a sign that some selling will gain momentum for BNB/USD and that support near the 313.0000 to 311.0000 ratios may be challenged. Market sentiment remains fragile and the incremental gains made since the 29^th of May are good, but perhaps they are not enough to convince speculators that a strong bullish run is about to ignite.

Quick hitting trades are advised for cautious traders while using take-profit orders and conservative leverage. The use of momentum while seeking short term trends may prove worthwhile, and traders need to acknowledge that choppy results are likely to be demonstrated near term in BNB/USD.

Binance Coin Short-Term Outlook

Current Resistance: 322.4000

Current Support: 313.1000

High Target: 334.9000

Low Target: 306.0000

BNB/USD was able to move to a five day high early this morning, and this incremental climb may attract speculative wagers on the buy side, or not.

BNB/USD is trading near the 333.5000 mark as of this writing.  Earlier this morning Binance Coin moved to a high not seen since the 10^th of May when BNB/USD actually hit the 338.2000 vicinity. The ability to break through highs seen on the 23^rd of May, when BNB/USD hit the 337.2500 ratio may get the pulse of speculative bulls racing, but it may attract skeptics too.

Before traders who remain optimists about the potential of buying BNB/USD, this if they consider the cryptocurrency in oversold territory, some words of warning: we are still within a bear market until proven otherwise.  The sudden rise in value of BNB/USD has come on the heels of an incremental climb which technically could be important if the broad cryptocurrency market were to suddenly turn around in mass, and start showing sincere price velocity upwards breaking resistance levels across the board, but it has not.

Skeptics who remain doubtful of BNB/USD and its price direction may view the recent climb higher as an opportunity to be sellers again. Traders are advised not be contrarian all of the time, sometimes moves higher can ignite into powerful trends in cryptocurrencies, but recent history has demonstrated that these moves upward have met stiff resistance and turned lower with dangerous volatility.

While bullish traders may respectfully disagree, BNB/USD would have to break the 340.0000 mark to really get folks to believe there is a chance that momentum is shifting. Technically, it can be argued that BNB/USD would actually have to break the 350.0000 ratio to verify a strong move higher, until this happens what we may be witnessing are mere short term reversals in a cryptocurrency market that remains choppy at best. The long term bearish trend remains intact for now and market conditions are still very fragile.

If BNB/USD falters and drops below the 333.0000 level near term another test of the 331.0000 mark could develop rapidly. Traders who want to sell and believe resistance will start to prove durable within the current price realm of Binance Coin are advised to use their risk taking tactics wisely. The cryptocurrency market remains volatile and sudden moves could develop quickly. The use of entry price orders and stop losses are needed. Selling BNB/USD and looking for lower values near term may be the speculative wager traders want to pursue still.

Binance Coin Short-Term Outlook

Current Resistance: 336.8100

Current Support: 331.9000

High Target: 340.2300

Low Target: 323.1000