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...
Mexican elections will be held on 1st July and candidate Lopez Obrador is the front runner. According to Lopez Obrador: "Venezuelan democracy is better than the Mexican one." "We will revert PEMEX privatization. Oil belongs to the people." It is unknown if Lopez Obrador would convert Mexico in the next Venezuela or not, but he is already spooking...
Looking for the 1-2 to hold and explode in a three busting resistance levels.
After a bearish week, the USDMXN found a support level (@18.55) that sellers could not break (yet), regardless that the US Dollar Index keeps losing strength, it is a good opportunity to buy with a 2:1 risk and reward ratio with our target @19.26 and our stop loss @18.41.
During the past four weeks, the US Dollar has depreciated substantially against the Mexican Peso. After reaching its highest mark since early March at 19.90, the pair initiated a new wave down and eventually breached a six-month ascending channel mid-January. At the time of this analysis, the Greenback was trading near the 18.60 mark. During the past two...
So we caught the downmove and made alot of money, why not catch the upmove too?
As seen on the chart the 200DMA has been an excellent buying opportunity. On this occasion it will line up nicely with the completion of the corrective ABC pattern. Dollar also testing long term support, so look for potential reversals
Hi guys. Here's another cautious idea for the brave hearts based on my modest interpretation of the chart. It might be premature to jump to conclusions but the breakdown is there and risk matters. Thank you very much indeed and please risk with care.
Looking at a break of the 61.8 & a trade within the Bollinger Median & the 200 SMA which could be a potential Neck-Line.
At the end of the first week of 2018 the USDMXN pair found a pivot point matching a previous resistance (now could work as support) and a demand zone. My recommendation is to wait until the price confirm the downside breakout to sell short with the target at the next support point at 18.52, if the price breaks the down trend, we can buy with our next target at...
My beloved Mexican peso finally found a resistance that could not cross and that is important because is a historical peak of September 2016. Having stopped there makes it appear that it is forming an "ABC" which would return the price to $ 16 pesos per dollar. Amazing!! If this resistance were crossed, the price would be free to reach $ 20/21 pesos per dollar....
Though it is still early, the USD doesn't quite seem prepared for a rally. The USDMXN pair seems to agree with rudimentary signs of a sweet bearish move. Price is currently at a strong resistance stronghold. The Weekly chart shows this critical zone very clearly. Additionally, the 50 MA is hovering right over price looking at the daily. Since entering the position...
The dominant pattern that has guided the USD/MXN exchange rate for the last six months is an ascending triangle. As apparent on the chart, the pair reversed from its upper boundary on December 25 and has since traded in a narrow channel down. The US Dollar is currently stranded between two important support and resistance areas. The pressure from both sides...
USDMXN To open SHORT positions for USDMXN , it is required: In this situation our system indicators to confirm trade entry confirmation for movement to the downside AT 19.8000 but if the market trend continues to range this signal will become invalid. Market execution for entry, I will confirm signal once the conditions have been met. Risk Description: Once...
As a trading pair, it looks like it will reach a short positive correlation for the potential of around a between 1 to 2% gains with medium to high risk. Overall, though it is investible on the basis that it will reach its past high point. Also the weekly resistance seems to be getting weaker. It seems investible for long but as a short holding strategy the...