Market Analysis
XAGUSD week ahead: silver holds gains, what to watch 2026-08-10
Silver closed last week at 63.516 after a sharp run higher, and this week is about whether that momentum holds against a stretched long position.
2 min readUSDMXN opened Monday at 17.3013 and closed Friday at 17.1326, a drop of roughly 169 pips or about 0.97 percent across the week. The move was one direction. Every session from Tuesday onward printed a lower close, and Friday's low at 17.0903 was the weakest point of the range, leaving the pair pressing toward the lower end of its band into the weekend.
The economic calendar in the bundle carries no scheduled high-impact events for USDMXN over the next five sessions. That shifts the centre of gravity onto price structure and broad dollar flows. With no domestic or US data catalyst listed, last week's downtrend and the position skew become the primary reference points for how the new week opens.
Cross-market tone matters more when the local calendar is empty. Broad dollar direction, seen through pairs like EUR/USD, tends to bleed into peso pricing on quiet weeks. A firmer dollar elsewhere would work against the recent USDMXN slide, while continued dollar softness would keep the path of least resistance pointed lower. Open an LHFX account to trade USDMXN this week via our account signup.
If price stabilises and closes back above 17.2027, last Thursday's close, the recent selling loses momentum and the mid-range around 17.2306 comes back into focus. If instead the pair breaks and holds below Friday's low at 17.0903, that prior low becomes resistance and the downside remains in control. A quiet open with no follow-through either way would leave the pair chopping inside last week's 17.0903 to 17.2107 band.
LHFX client positioning shows 62.1 percent long and 37.9 percent short as of Monday morning. That is a clear long skew, and it sits against last week's downtrend. Traders leaning long have been fighting the direction of price. A crowded long book into a falling market can add fuel to further downside if those positions are forced out, so the skew is worth watching alongside price rather than reading it as a directional endorsement.
Friday's low at 17.0903 is the immediate downside marker, and a hold beneath it would keep pressure on the lower end of last week's range. On the upside, Thursday's close near 17.2027 and last week's high at 17.3415 mark the levels a recovery would need to reclaim. These are reference levels for framing the week, not entry signals.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
