Last week I attempted to short the usd/mxn and it didn't work out to say the least. This week I am back for more. The trend is still bearish and we are still below the midpoint of the range (rectangle). Selling here or higher with a stop above todays high at 20.4000. Hopefully the spike up marked the top and there will be continuation to the downside over the...
The dollar has been on a monthly & weekly bearish downtrend following the cap thrown from both sides of the latest elections, added to new doubts surrounding the now president Joe Biden. Within his first months we have seen a substantial amount of executive orders, however we have yet to see uncle joe help the homies out with the stimulus checks they are in...
Quick Video recapping all trade plans from the earlier live stream TRADE PLANS INCLUDE: EURUSD XAUUSD USDCHF GBPJPY USDCAD USDZAR EURAUD USDMXN CADJPY ---------------------------------- Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN...
After observing price is finding resistance at $20.00, and Stochastic indicator is at a level of 92 (pverbought), price might move downward to a lower low, probably $19.50 I am personally entering a short position STOP LOSS $20.02 TARGET 1: $19.70 TARGET 2: $19.60 TARGET 3: $19.50 Not financial advice, do your own research...
I was asked to put together and analysis for this pair. I am pleased to see some strong support and resistance in play creating positive trade sentiment. A rejection at current resistance at market open will sentiment towards a bottom support retest at 19.53400. A break through resistance at market open will continue to make attempts for breaks through 20.19600...
Placing a buy position on USD/MXN Due to rises in COVID cases and new strains of COVID weighing in on Mexican PESO. The Mexican Peso remains vulnerable to a risk-off move, meaning the US Dollar will be picking up safe haven momentum. If this occurs, I would look for a break above 20.50 to start considering price reversal, with a close above the 21.00 line as a...
So USDMXN is respecting both the 19.61 level and the purple downtrend line. A lot of touches on the trend line (red circles drawn) and rejections. We are looking for a break on this trendline as a first signal of reversal. Below 19.61 we have 19.03 and 18.55 but we don't think it goes there. Similar fractal from when it climbed from 18.55 to 26, we were...
USD/MXN has been in a range since early December but I think its getting ready to breakout to the downside. As long as price stays below 20.0000, I could see a move all the way down to 18.5000 near the pre covid lows. I think the FED has been clear about its policy and any reflation should positive for the peso. The move in crude oil should also be a tailwind.
Six days ago I published a idea about a long position in USDMXN, and now the price is in our entry, it is possible a new entry in 15 min (entry after entry).
In this video, we look at the U.S Dollar's current strength against the Mexican peso and South African Rand being caused by rising U.S Government 10 Year Bond Yields. The trends remain firmly in play for more dollar weakness, and potentially additional selling opportunities for both currency pairs.
Midterm forecast: While the price is above the support 19.5970 , beginning of uptrend is expected. If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is...
Midterm forecast: While the price is above the support 19.5970 , beginning of uptrend is expected. If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 48. ❤️...
USDMXN has been in a deep move down and now has a what might become a potential bottom. Breaking the trendline (points where it tested are circled in red) would be a good signal...looks like the trendline with the fib line (orange horizontal line) might be the intersect, around 20.25. By breaking, we would like to see a daily break and ideally a weekly break above.