Chart of the Day -EURMXN- (Feb 28th 2019)

The EURMXN is breaking out of a long term consolidation inside a triangle that has formed all of 2019. This is a significant development for a couple reasons.

Crude Oil: Bullish Now Or Reversal Coming?

Macro Perspective:

Oil went into free fall in mid-2014, experiencing a relentless bear move which saw oil price drop by over 70%. US shale producers turned out to be the tipping point in terms of the global supply glut. This, combined with a decrease in global demand, proved to be an unstoppable force that lasted for over a year.

 

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Chart of the Day -XAGUSD (Silver) – (Feb 21st 2019)

The Silver market has potentially double topped. More importantly, this is happening at a key Fibonacci level and previous support from the lows back in April 2018.

Chart of the Day -EURAUD- (Feb 20th 2019)

A breakout higher or lower out of this triangle will happen following the Australian employment data tonight.