Looks like elliot-wave is taking the lead on this one. We have completed what looks like a 4th-wave retracement, and now it looks like this pair may find some serious buyers longterm.
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...
My view: sl: 19 entry: 18.90 tp: 18.25
The general trend for USDMXN is bullish after a recent period of correction. Currently we see a positive sentiment for the dollar and the USDMXN pair has traded higher on the strength of the dollar. Currently we seem to be testing the upper limits of the bulish trend channel at 18.94. I expect a short term correction as the channels lower bottom is tested.
The general trend for MXNUSD has been bearish. I initially forecasted a target of 18.50 or lower but the market has set 18.54 as a strong floor which has broken much of the downwards momentum. We are starting to see a recovery since the price reached the days low at 18.52 and its beginning to form something of a bullish channel. I would expect the price will...
Today mxnusd pair has decoupled from DXY and is headed south testing the most recent 2-week lows.
I'm seeing interesting setups everyday, one of it is on the USDMXN. On the big picture Weekly , there is supply and there's demand. My action plan is to look for shorting opportunities once price test Weekly supply, probably set 3 target profits on the way down. Moreover, those who practice price pattern trading, I think that's a Shoulder-Head-Shoulder formation....
Mexico gains a steady recovery after an overnight bullish rally. The price seems to be consolidating between the range of 18.70-50. I expect the price will trend lower but high volatility could see the price reverse at the bullish channel support and test the recent high's above 18.73
USD/MXN has been confined in a nine-month ascending channel. The pair tested its bottom boundary early in February and has since demonstrated a slight up-trend. Moreover, the US Dollar is likewise trading in a medium-term channel valid since mid-December. In line with this pattern, the pair should push below the senior channel and approach 18.00. However, it...
It is another update to my previous ideas. I I would say that this looks like irregular H&S formation. This resembles to H&S formation on the USDCHF back from 2010 between may and june. I would say it is quite a opportunity I also linked few other examples how this formation is acting when is pointing trend continuation.
I'm starting to think that the pair will not create H&S pattern which i mentioned in previous idea. I marked 3 GAPS based on weekly chart. These are playing important role and created strong support/resistance area for any bullish movement in the past weeks. I set up risk reward ratio based on the 50% fibonacci retracement. My TP is 15.20
Waiting for down retracement before moving up
Starting the c-wave and forming the 4-wave of a higher degree
hi all waiting for breakout and targets will be the supports and resistance as shown
50% marked on the chart is the retracement form the last 7 months downtrend started at the begging of the January last year. I see here incomplete head and shoulders pattern which may or may not appear in next couple of months. the top of the formation is in 50% area combined with psychological level which is 20. one arm is bounced from GAP combined with...
USDMXN Daily Analysis --------------------------- Elektro Analysis
The US Dollar is trading in two opposing channels against the Mexican Peso. The lower boundary of the senior channel was tested last week when the pair bounced off the 18.35 mark. As apparent on the chart, the Greenback has since formed a neat ascending channel towards the upper boundary of the medium-term channel down. It is likely that the pair edges higher...