Hello Traders Here is my view on USDMXN.
A setup for sale is coming soon. May be :-)))) Updating last USDMXN | SHORT | TRADING IDEA Elliott Basic Wave Patterns
USDMXN Trading Plan BUY - Riks Reward 1:3
Technical: USD/MXN broke out of a massive symmetrical triangle today and is retesting the top for confirmation....The Ichi cloud is providing support (not shown here in order to not make the chart too busy....run it yourself and see). Fundamental: With the debacle in oil prices today (WTI may futures contracts traded for negative $37, yes, negative, adn June...
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.
After higher time frame completion of bullish flag pattern and a strong push to the upside we are witnessing a bearish flag pattern entry taken on third touch.
Forming Larger BearFlag for the downside. ThankYou
Strength of USD versus currencies of EU, Japan, China, India, Russia, Mexico, Brasil, Saudi Arabia, Turkey, South Korea. There had been a cosmic demand for dollar but as COVID hit USA from April 6 we saw a breakdown. Now we are at major support, on the monthly balance point, from which a push up is likely but not guaranteed. The area between CAMS1 and CAMR1 is...
I have been taking a look into dollar index and a strong push up is very likely next 2 weeks, considering all the conditions of what happened: 1. Breakout of descending daily supply trendline (breakout candle - strong bullish, second post breakout candle strong bullish) 2. Trendline breakout retested (important factor: price stayed above the trendline after the...