The USDMXN pair has been one of the most consistent buys in the forex market historically. In the last 6 years in particular there is a very clear Higher Lows trend-line that Supports the price and initiates major rallies when it is touched. The last contact with it was on May 30 and as expected, that caused a strong rebound. So far however it is contained within...
After checked FSR indicator I was able to locate some possible points which MXN will be follow.
Due high scale I was NOT able to modify my first approach so please keep in mind that this is only the next moves but no exact dates.
The USDMXN pair has been trading within a Channel Up since late 2020. The Fibonacci Channel levels help at understanding bettern the Resistance and Support levels involved on each Higher High and Higher Low leg. Right now the price action seems to be about to complete the (3) and final leg of the correction similar to that of August 2021. That was the Accumulation...
✅USD_MXN is about to retest a key structure level
Which implies a high likelihood of a move up
As some market participants will be taking profit from short positions
While others will find this price level to be good for buying
So as usual we will have a chance to ride the wave of a bullish correction
✅Like and subscribe to never miss a new idea!✅
USDMXN Bullish Confluence Factors
Level: EMA 10 Dynamic Level is above EMA 20 Dynamic Level; Four or more touches on horizontal support resistance level
Signal: "Wait For Price To Close Above 20.88690 and then watch for a bullish price action signal near price level 20.88690."
$EURMXN is making higher lows in a descending wedge which is typically a reversal setup (higher in this case). There is a strong inverse relationship with risk assets (SPX in this case) so a move above 24.1700 would be a very bullish event.
Another typical procedure can be seen here, the combined advance by buyers cannot be prevented in the long run. This advanced would (and now we are seeing....) lay bare the base on the strong support at 18.9x. Much worse for Sellers, the attack on the highs involves 22.9/23.0 as a main target. For the strategy, the correct plan now consists of holding and adding...
We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair.
As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree...
The USDMXN is trading close to a very solid support near the 200 EMA in weekly candle. It has been bouncing since November last year from that same support. The last time it broke the 200 ema was in May 2013; in February of last year it reacted strongly when it touched it. From my perspective, an upward rebound is more likely than a break of the support, which...
A possible bullish AB =CD pattern may be forming in the Mexican peso - US dollar pair.
My hypothesis is that it will return to at least 20 pesos per dollar and then rebound. The most that could fall would be around 19.6 pesos per dollar.
The potential reversal zone (D) coincides precisely with the 127.2% of the fibo and with a level that served as support in...