USDMXN Buy Idea @Daily Demand Zone (19.67163 - 19.45592) Buy Limit: 0.98810 Stop Loss: 0.98200 Take Profit: 1.00136
Time to get down for USDMXN. Open 3 small trades, R:R respectively 1:1, 1:1.5, 1:2 On first target move stop loss to breakeven for last 2 trades. On second target move stop loss of third trade to first trade take profit. Good luck
Wait Fundamental Support!
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Another opportunity to buy this emerging market pair, this morning the first attempt closed at break even (link below) as a larger pullback has developed. I have changed the count from an A-b-c pullback to W-X-Y a double three as elliot called it. I like this pullback more as it allows the price to retest the trendline that has guided this move higher, there are...
Clear signs of uptrend. It goes staight to 21.50. Just Long it my opinion. Enter at 20.72 Target 1 20.9730 Target 2 21.230 Target 3 21.450 Invest at your own risk
On the daily timeframe, price has completed a 3-wave structure (ABC), hitting the ratio expectation between 20.39 - 20.97 area as well. On the lower timeframe, we are seeing a diagonal structure forming with a divergence in RSI too. These give us a good reason to be looking for a potential reversal trade on the USD/MXN, targeting 17.81 as the first...
Following our pattern quite nicely, we think this pair hit above 22 in the near future. Coming elections, NAFTA and rates all applying upward pressure, as well as a well defined bullish pattern. Only after elections do we see pressure removed and a down phase for this pair.
The US Dollar has been trading in an ascending channel against the Mexican Peso since mid-April. This junior pattern was formed when the pair reversed from a one-year channel near 18.00. The Greenback has been trading slightly below the upper boundary of this senior channel during the past two weeks. This level at 20.20 was not reached, as the 20.03 mark proved...
Aditionally the RSI is showing a divergence... so it could be a good moment for short... what do u think guys?...
Like all the pin bars and I do believe we should see pull backs on US dollar tonight. UsdMxn on my radar and pending order...
...under the evidence, I seems that this is the breakout.
How much love these two have?. I have to accept that I expected to see 17.20, It was a crazy dream... (ok, my DXY chart I was using as reference was wrong). This time I will keep them together and see what kind of relationship there is even on days as important as right now for Mexico. (NAFTA and Presidential Elections). Best wishes!!