plain and simple chart art, looks like price has reached the top of a strong weekly trend line and showing signs that bears are slowly taking over. Possibly going to reach low prices of 19.30 - 19.16 area
=> What is in play here? => To put it simply we are tracking two scenarios... the market is currently trading against strong resistance and we need to get above this area to avoid it becoming a very large triangle. => If we look at the recovery since August, we can see that this move has been impulsive and increases the odds for the break to the topside. => The...
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
This a trend analysis on USD/MXN. Our first indicator on an uptrend comes from the golden cross on October 26, 50 MA crossed the 100 MA. Last two times it happened we saw important increases which should mean midterm profit. Both the stochastic and RSI are pointing up, but buyers are getting tired, so my entry point should be between 19.43-19.83 with a...
The Mexican peso seems to be recovering and although it is important to see how it reacts to the supports, everything indicates that it will remain positive until the end of December. It is important that I keep an eye on the news and reactions to the new president, but in general the analysis gives enough information to be reliable. Follow you own plan. Best...
Our beloved Mexican peso is going through a difficult moment, but he has a chance to fight. The uptrend has a very complicated zone ahead, and the time window begins to close. To achieve the level and close the movement around 19.70, it is necessary a violent movement that at this point looks complicated, unlikely but not impossible. From my point of view, it is...
Important resistance at the beginning of October. The review shows that we could have two likely targets, both quite aggressive in my opinion. It is important to observe how it responds to the critical area and to remain attentive to its development. Follow your own plan Best wishes to all...
Mexican peso is bearish for the last year. I pointed out most important places. - exact 50% of previous wave - H&S formation followed by recent trend - pair is trading below 200 ema on Daily CHart - GAP support/resistance area is fairly respected by market plus bonus which tells me that it is rather good entry Mexican interests rates which are very high in...
=> The recent chest beating from the US forcing Mexico into a "new" NAFTA caused some temporary optimism. However, we see nothing new and mostly the lack of options within EM has been priced in with regards to risks and mid term investment narratives. => Combined with our broad view of EM weakness across the board we see capital flight to safety as a sensible and...
=> Markets are still awaiting more details on NAFTA from the Canada front whilst the knife is already being stuck into the bent knee of Mexico. => Here we have a minor update to our chart with the lows still managing to hold for now there is nothing to see or do here... => Expecting USD to catch a strong bid as the Peso continues to weaken in the weeks ahead. Any...
There is enough information to push this pair, the critical area shows an important cluster of resistance near September 20. As always this is just a part of the information that should be compared and taken into account with many other variables. Best wishes to all.
I will leave some to run in case it breaks the high.
USDMXN is aiming lower as it extends the 1D Channel Down formation (RSI = 31.723, MACD = -0.292, Highs/Lows = -0.1361, B/BP = -0.3496). This is part of a larger 1W Head and Shoulder's pattern that should later trade sideways on its neckline. For now we are shorting with TP = 18.16975.
Entering long here - will buy more if we see a further downside action $$$ Targeting higher highs within weeks - eyes at 22 MXN $$$
Hello everyone, I'm a fledgling trader and this is my first thought/idea share in here. Right now I believe that the Mexican peso is going lower as the current political state of Mexico takes away some of the FUD as the new president-elect has been talking about developing the country's international relations and putting a somewhat stop on some of the...
Umex made a small 1 hr ending diagonal. Whether this is the bigger drop, I cannot know for sure (refer to last post or watch my last live stream). We can just get a small wave 4 and one more push, possibly 38% or it starts working down.