The Mexican Economic Activity IGAE for February is predicted to decrease by 0.90% annualized. Forex traders can compare this to the Mexican Economic Activity IGAE for January, which decreased by 0.81% annualized. US Preliminary Durable Goods Orders for March are predicted to decrease by 12.0% monthly, and Durables Excluding Transportation are predicted to decrease by 5.8% monthly. Forex traders can compare this to US Durable Goods Orders for February, which increased by 1.2% monthly and to Durables Excluding Transportation, which decreased by 0.6% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for March are predicted to decrease by 6.0% monthly, and Capital Goods Shipments Non-Defense Excluding Aircraft are predicted to decrease by 7.0% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for February, which decreased by 0.9% monthly and to Capital Goods Shipments Non-Defense Excluding Aircraft, which decreased by 0.8% monthly.

Final US Michigan Consumer Sentiment for April is predicted at 68.0. Forex traders can compare this to previous US Michigan Consumer Confidence for April, which was reported at 71.0. Final Current Conditions for April are predicted at 72.4, and Final Expectations are predicted at 70.0. Forex traders can compare this to previous Current Conditions for April, which were reported at 72.4 and to Expectations, which were reported at 70.0.

The USD/MXN forecast turned bearish after this currency pair lost momentum. Yesterday’s US initial jobless claims decreased as compared to the previous week but remained higher than economists predicted. Today’s durable goods orders will move price action. Will bears get the required data to force a sell-off, or will bulls attempt to challenge this year’s peak once again? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Should price action for the USD/MXN remain inside the or breakdown below the 24.3090 to 25.0360 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 24.7800
• Take Profit Zone: 20.5400 – 21.0830
• Stop Loss Level: 25.1800

Should price action for the USD/MXN breakout above 25.0360 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 25.1800
• Take Profit Zone: 25.7650 – 26.0000
• Stop Loss Level: 25.0360

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