19 will be a crucial area to understand if the uptrend might have chances to resume or if it would reverse into a downtrend. I believe we are close to see the beginning of a new trend. However, it is suggested not to trade until it will be clear the new trend. Below 18.50, and ONLY after a re-test of area 19, it is suggested to short the pair.
Further comments to...
A three year bullish cycle might be close to end. While the monthly chart is still bullish, the daily chart is getting bearish. Back to monthly chart, I have stressed out two bearish patterns. The first one has failed, while the second one is still in formation. Obviously, there are now lower-highs and lower-lows to define an uptrend. However, the monthly chart is...
Waiting for stronger bullish price action before setting up buy stop order near current base fib with SL few pips below 21 and TPs at R1 and R2 pivot lines. Despite the US trade deficit with Mexico, there is strong support @20, and USDMXN is more likely to bounce up soon and resume its bullish trend based on overall sentiment in USD and MXN...
... Are looking a little less extreme than they were before Trump's inauguration, whilst the currency represents great value. I'm inclined to take the under on Trump's doomsayers and this trade is the best way to express that view while collecting carry (presuming realised volatility continues to calm).
Based on weekly chart, it's also possible that USDMXN will go bearish first down to 20 in the next few weeks. But with the Fed hawkish on USD and likelihood of another interest rate this year and anticipation on economic growth, USDMXN can bounce up again and go bullish in the long-run.
But if I get a bullish price action within this week, I'll be setting up a...
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
4XSetUps for next wee - friday close(1482 Cross-Rates)
drive.google.com
Best regards :)
Aaron
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
.zip (with PDF`s) @ my Google Drive
In percents away from all-time high & low by last close (1482 Cross-Rates)
drive.google.com
Best regards :)
Aaron
This pair is still under consolidation the week after the US elections, but in the short-term might either continue down until 20.000 before rallying again, or start bouncing now up to S1-S2 pivot levels. Keeping an eye on its price action today.
www.fxstreet.com
W:
D:
MACD crossover underway in USDMXN... Given the magnitude of the move in the Peso after Trump's election, it's reasonable to assume that any reaction to a Fed hike should be lesser vis other EM currencies given there's value here in Peso.
It´s been quite fashionable to analyze the USDMXN pair since Mr. Donald Trump has become an official candidate for the presidency of the United States. All his promises had strong influence on the Peso and every time we have any news on Mrs. Hillary Clinton´s advances in the presidential race, Peso recovers strongly against the US Dollar.
But if we check a...
