Hello Traders! USD/MXN looks bearish! MACD has just crossed below with a good bearish strength – RSI looks pessimistic with a good range from being oversold. HISTORICAL SUPPORT might be reached, so stay alert! VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading...
This is a full breakdown of my perception of price action on higher time frames! I take my entries using smaller time frame confirmation and you should, too. If you have any questions about this trade or my strategies feel free to ask them in the comment section below! Let’s make some money together!
USDMXN broke lower limit of triangle pattern Price is based below HVN at level 24.0610 which indicates that pair is in distribution phase Below SMA 100 on H4 frame MACD shows bearish momentum RSI is in downtrend It's expected going down testing daily support level at 22.0264 which corresponds to 127% Fibonacci expansion
USDMXN Triangle formation over the past April with undefined direction. Triangle formation break this week, the chart made allready a test to the 23.800 level, now resistance. We will see probably a drop to the 22.800 (fib 0.382). TP1 - 22.800 (fib 0.382) TP2 - 22.000 (fib 0.500) TP3 - 21.150 (fib 0.618) Small SL and big TP Trade safe, cheers
We place two blue lines on the 4-hour chart starting at the highest high and lowest low, tracking the price congestion in the Mexican peso with lower highs and higher lows. The upward attempts at the Mexican peso moved further and further away from the upper line, while the lower ones struggled with the lower line until beating it on the third attempt at the end...
The wave Y reached equal distance of wave W. It could dip lower to 22.80 (valley of wave W). The trend then will resume to the upside. It could hit between 26.70 and 27.50. I see oil lower and oil related currencies could drop.
Touching the 100 and 200 ma, further upside expected if it breaks the downtrend from 26 april.
Sharp bullish wave ended at level 25.5137 Now USDMXN pair is in trading range forming Head and Shoulders pattern MACD shows bearish momentum It's expected to target first neckline at level 23.8222 then target demand zone at level 21.0992 which corresponds to the classical target of Head and shoulders pattern
Parece que la paciencia sigue siendo lo mas adecuado en el peso, ya que cuando da señales de baja no tarda en regresar al pivote, lo mismo cuando parece que encuentra nuevas presiones, regresa de nuevo al 23.80 Esperemos ver si respeta las lineas naranjas que demuestran que los ultimos minimos siguen siendo mayores, y los maximos menores. Seguimos con cautela.
It looks like the MXN will define the direction until next week, short looks to be the best bet. 23.70 may tiger sells, 24.02 may tiger buys.
Sell Eurmxn. Technical indicators show divergence, there's big probability of price reversing back to above mentioned zone.
GBPMXN Short Opportunity Head and shoulder on H1
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