=> 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...
The Peso continues to decline this month. Since the 10% crash from January to February, the long term trend is in a downwards channel. However I believe that it will once again break below the channel and continue to fall. (Click and drag on the price axis to move the chart). Looking at more short term profits: A Head and Shoulders pattern is forming on the...
Out of 32 charts I watch only 3 are trending, and I missed my entry on 2 of them which are silver and USDMXN huhuhu. Well maybe some exotics are trending my account to trade them is not set up yet so I did not check 4-5 charts. Before I write what I think, I would just want to post my watchlist, and if someone is interested in what I think about one of those, I...
I am shorting USDMXN. Right now it is moving in the leftist Gann angle where price moves fastest in relation to time. Seasonal data confirms strengthening of Peso (means shortening of USDMXN) until 17.07.
Hi All, USDMXN Bearish Bat setup formation on higher TF. Stops and TP given on the chart, please be flexible with stops depending on price Action. Goodluck
In this video I discuss a potential buying opportunity from key support.
Very basic layout. Momentum out of shrinked volatility. Purely technical analysis.
The US Dollar recently gained massively against the Mexican Peso. That occurred mainly due to the political turmoil around the Mexican Presidential election, which caused a sudden fall in the value of the Peso. However, the surge was stopped by a resistance line of a speculated ascending channel pattern at the 18.50 mark. Although, the psychological significance...
Here on the daily chart for USDMXN there is a possible expanding triangle forming. The first impulse and correction has formed on the 1 hour. More charts will be posted as updates.
should break out from resistance if we gain momentum in this wedge. watch volume spike
BRAZILS RISK PREMUM IS STRETCHED See "Summary Statistics" in doc below www.bcb.gov.br BRL's risk premium (currently highest across EM peers) looks stretched, given a continued pick- up in growth and reducing near-term political risk. COP's recent rally was likely driven mainly by a reversal of heavy short positioning, without a material shift in the country's...
Since the last time that the USD/MXN pair was reviewed a lot of developments have occurred. First of all the resistance of the previously active medium channel down pattern was broken. Secondly, a new medium term ascending pattern has been mapped. However, those are background patterns to take into account in an orders to enforce proper risk management. Main...
The 2-year lasting correction could be over soon. Candlesticks in wave Y chart the shape of ending diagonal, which is strong reversal sign. Wave Y is already equal to wave W as it means that the USD drop was sufficient. The former major top at the 732 is the minimum target. See related idea in Turkish Lira, it could be similar.