This exotic currency pair has been in a bullish trend over the past few weeks, due mostly to USD strength. The news of the origin of a potentially dangerous coronavirus variant emerging in South Africa at the end of last week caused many countries to shut their doors on South African and other African travel, and strongly hit the price of Crude Oil on fears of...
Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The forex cross USDMXN is currently in an ascending triangle setup with resistance observed around the 21 price level and the support trend line seen around the higher lows of 20.12 and 20.25 respectively. Expectations are for USDMXN to rally towards the 22 price level. Failure of this move...
Welcome Hyperspace Travelers, This is a time-series analysis of the macro 1 week timeframe of USDMXN. It is of my opinion that the Peso is going to see a nasty hyperinflation cycle. TP: 31.1 In previous instances, a rising DXY is a catalyst for a rising Peso; as weight of the co-variance of R becomes redistributed fundamentally. A rising USD, at specific...
We had price respect bottom of the channell Price broke a few short terms highs Swing trade back to the top of the channel
Foreign Currency Trend: Up Level: Diagonal Level, EMA 10 Level, EMA 20 Level
Triple top or head and shoulders pattern in development. Attractive risk to return. Good luck and trade safe!
USDMXN Bullish Confluence Factors Trend: Up Level: EMA 10 Dynamic Level is above EMA 20 Dynamic Level; Four or more touches on horizontal support resistance level Signal: "Wait For Price To Close Above 20.88690 and then watch for a bullish price action signal near price level 20.88690."
I have been leaning towards a MA retest strategy that has been panning out pretty well these past few months. Here is a setup from a trade last week. I primarily look for candles closing at the 4 hour closes and also around the 1 hour closes around the NY session open. There are three MA's I use. The 20 MA (blue), 50 MA (red) and the 200 MA (gold). Not only does...
LONG order placed for the open tomorrow night. Expect price to retrace a bit so I expect it to fill. Decided on a tight SL on this one to maximize profit. Will RISK 1% on trade because funds tied up in other trades and I dont like to play with leverage but easily this trade could risk up to 1.5%. MACD pointing higher and crossing ZERO with BULLISH Divergence...
According to Price Action and Major Resistance Level TP and SL
Long trade on USDMXN. Triangle break upside. Higher consistent higher highs formed.
USDMXN Entry Price Range 20.27720 - 20.47720. Wait for price to form a rejection candlestick in a pull back to the EMA 10 EMA 20 and Horizontal Support Resistance Level.
Based on our Fibonacci drawn from high to low on this daily time frame, we can clearly see that price has stopped at an entry zone for bears. Another confluence for this entry zone is the horizontal line drawn at the 61.8 level of the Fib, and as you can see price has touched this area a few times now. If you take this idea, make sure to set your stop losses based...
buy signal - usdmxn don't forget the risk management
USDMXN completed a deep reversal completing a bullish bat pattern on the 4 hour timeframe. Not only that, but reacted very nicely to an area of daily demand. Long opportunities could be possibly taken from this area as long as price holds above the demand area and starts shifting structure to the bullish side. Possible profit targets are marked in the chart.
In August the Mexican peso weakened from 19.848 to 20.071 against the US dollar. Economists at MUFG Bank expect MXN to depreciate from the 4Q onwards amid tapering cycle in the United States. Mounting COVID-19 cases and deaths with Delta variant, and sluggish vaccination rollout in Mexico “Assuming that FED tapering starts later this year and it will carry on at...