EUR/MXN, Technical Analysis, February 5, 2018
The EURMXN maintains the bullish momentum after the good economic results released during the last press conference two weeks ago by the president of the European Central Bank, Mario Draghi (Find below, all the ECB press conference highlights)
The pair couldn't break the previous resistance now support zone, maintaining the up trend. My recommendation is to buy with the objective at the next supply zone @23.50.
ECB press conference highlights, 25 January 2018:
• Robust pace of economic expansion, which accelerated more than expected in the second half of 2017.
• Real GDP increased by 0.7%, quarterly at 2017.
• Private consumption is supported by rising employment.
• Business investment continues to strengthen on the back of very favourable financing conditions, rising corporate profitability and solid demand.
• Housing investment has improved further over recent quarters.
• The broad-based global expansion is providing impetus to euro area exports.
European Central Bank Directorate General Communications. (25 January 2018). Press Conference, Mario Draghi, President of the ECB. 05/02/2018, de European Central Bank Sitio web: ecb.europa.eu/press/pressconf/2018/html/ecb.is180125.en.html
The pair couldn't break the previous resistance now support zone, maintaining the up trend. My recommendation is to buy with the objective at the next supply zone @23.50.
ECB press conference highlights, 25 January 2018:
• Robust pace of economic expansion, which accelerated more than expected in the second half of 2017.
• Real GDP increased by 0.7%, quarterly at 2017.
• Private consumption is supported by rising employment.
• Business investment continues to strengthen on the back of very favourable financing conditions, rising corporate profitability and solid demand.
• Housing investment has improved further over recent quarters.
• The broad-based global expansion is providing impetus to euro area exports.
European Central Bank Directorate General Communications. (25 January 2018). Press Conference, Mario Draghi, President of the ECB. 05/02/2018, de European Central Bank Sitio web: ecb.europa.eu/press/pressconf/2018/html/ecb.is180125.en.html
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