The Mexican peso looks strong. It broke to the downside during the US session and bottomed today at 18.95.
I see two supports. The immediate support is the 18.90 area. If we break that support, we could go to the second strong support at 18.75, especially if oil price does not fall.
Also, both the daily MACD and RSI give us a bearish signal.
On the other hand,...
Despues del caos un patron familiar aparece en el usdars, pareciera que entramos a un canal ascendente.
El dolar a 48 podria llegar en las proximas semanas. : (
En el chart diario, el precio rebota sobre el la media movil de 30 sma, mostrando una tendencia bullish.
Tener pesos es una mala idea.
After the market rallied during the last week in favor of the US dollar ,
we sold off later in the day making the chart bearish in the short run.
It seems we are forming a descending triangle .
We could go to 18.75 soon, and that could be a break to 18.50, especially if oil price don't fall.
On the other hand, if we go bullish , I expect the...
Refer to trade idea below. Looking for short in accordance with descending wedge to trend line on the higher time frame. This may take some time to develop. This idea is for demonstration and educational purposes only. Trade at your own risk. Possible 350 + pips
USDMXN has made a triple bottom, with bullish divergence on the stochastics.
Price action looking to retest the local resistance. A break above that should see a test of the main resistance, which is our main target.
Hey everyone first i want to wish everyone and their family a great easter weekend!
We are looking at the USDMXN pair a second time after we were anticipating a great short from the last idea. I will link it below.
We clearly see that the bearish trend line is broken and retested on the 1h timeframe. The red horizontal line is a key support level, where price...
My analysis is fairly simple, I drew a channel in which price broke it and now coming back up for the retest.
I drew a fibs for the first double bottom I saw on the lower time frame(5m) so I can measure that expected pull back and entry. Price retested the 1.618 twice with confinred rejection and now price is following my fibs to the T so I am expecting a heavy...
To be brief, Mexican growth is slowing with prospects for the G20 economy to slow further. Technicals oscillators shown below indicate a buy as well. This buy is a bit crowded however, so I wouldn't be surprised if the contrarian sell comes in strong. But I lean long.
If you like my analysis, please feel free to check out my other work at...