Inverse head on shoulder reversal pattern happening here as price has broke its downtrend structure after making its 3rd bounce off the major weekly ascending trend line.
After a triple descending cycle down to 19.80 support levels, the bullish pressure its getting in to the game for a potential corrective up to 20 levels.
=> 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...
Who's in this sell I posted way back? Looking to go to 18.50-18.00 to break trend line more longer term.
I see a potential Head & Shoulders patter forming on the USD/MXN. All the details are listed on the markup. Trade at your own risk! I am not qualified to give financial advice! Happy trading :) ~TraderTrev
UMEX is currently breaking the trend line. It is in the zone. Notice that the .764 extension breaks previous high. We It is in a strong uptrend currently but can reverse at any time really looking at the price action. I marked some potential levels for limits and targets. This is a weekly swing. The idea would be to get a correction breaking trend line. If it...
This is the daily. Diagonal seems to be in a wave 5 position of a "C" wave. Emex seems to be holding at the 27% extension of first wave (high came off the 1.382 trend fib extension). Both Umex and Emex are showing "B" wave corrective structure. And I would not be surprised to this diagonal double top (See USOIL). It broke bottom trend line and pulled slightly back...
watch this top for the sell SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
=> Here we are tracking a break to the upside in USDCOP with a target of 3223 => This flow is trading the recent underperformance in Columbia and playing it against USD strength via inflation and bond to equity flows. => This should be a quick and sharp move with low political risk in Columbia and upside in Oil prices being capped for now.(edited) => If risk rises...
Welcome to the series where I play with both technical and fundamental aspects of the market. Leave your suggestions if you want me to cover a specific asset. Technical story: As everyone but Maluma noticed, FX_IDC:EURCOP is really close to marking all time... close, but breaking high may come too. The correlation with emerging markets ( AMEX:VWO ), although...
Pretty clear bearish divergence on RSI and MACD Look to enter short positions
After breakout I guess prices will be move around 29.
Looking at the EURO/Peso This is should be a strong sell for the week but I'm searching for the perfect entry. Looking at the trend up I dont think it is ready to break this trend line. I would look for it to push up to a area of resistance then start to push down strong enough to break through the trend line and hit a lower level of support. This might take some...
=> 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...
=> Here we are tracking for a short-term high to be set, whilst bulls remain above resistance at 39.35 the yearly highs are open for a test. => Here we can either trade crumbs to the highs or look for opportunities at 41.50x as we begin to set a secular high. => Whilst we don't see EM out of the woods yet, we are expecting some recovery into 2019. => A very...
I just don't understand why this and other emerging markets are getting new life this week. The IMF is and central banks are buying the peso to prevent its free fall. However, the Country's GDP just SHRANK 4%. Some banks are telling folks to by emerging markets now, which doesn't make sense as any price rise is due to central banks buying currency and not due...
This is the exact spot for Umex to go into a WXY "B' wave or make a correction if it wanted to confirm downside.
The collapse of the Peso has accelerated after President Macri called yesterday for the IMF to accelerate disbursement under its standby programme amid rapidly deteriorating market sentiment. The Argentinian central bank hiked rates from 45% to 60% in a forceful attempt to shore up confidence. However, despite the hike, the Peso has continued to weaken. The ball...