This pair is about to hit major support where it's likely not only to hold but turn and then go on a tear to the upside.
The indication is for a +20% run here, from the buy zone, making it well worth the wait - and then a major Buy.
Hello Traders,
Hope you all are doing good!!
I expect USDMXN to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market...
Hello Traders,
Hope you all are doing good!!
I expect USDMXN to go Up after finishing this correction.
Look for your BUY setups.
Please follow me and like if you agree or this idea helps you out in your trading plan.
Disclaimer: This is just an idea. Please do your own analysis before opening a position. Always use SL & proper risk management.
Market can...
USD/MXN has been in a range since early December but I think its getting ready to breakout to the downside. As long as price stays below 20.0000, I could see a move all the way down to 18.5000 near the pre covid lows. I think the FED has been clear about its policy and any reflation should positive for the peso. The move in crude oil should also be a tailwind.
From our chart, we can currently see that price level for USDMXN is at the 161.8% fib level. We can see that this movement act as a retest to the trend support level (dotted line) with a potential to see price moving to the upside. Price level is also consolidating near the support @19.8000 price level. I am expecting strong support pressure here and will see it...
Hello traders
US dollar is getting stronger against "peso mexicano" after the 7 month decline the started April 6 2020. On September 22 2020 price broke above "7 month bearish trendline" indicating buyers are under control.
This in my Wave count
We managed to see a crucial retest from 61.8 fib level for USDMXN. A good exotic pair to enter a BUY trade as we see it heading towards the resistance level @23.2200. As we starting seeing USD gaining strength, I believe price level could break 23.2200 resistance and head towards 1.618 fib level where we starts to see strong resistance pressure which we could...
It is worthy to state that the Peso continues to ride high on the back of a weaker US dollar. Following my last publication (see link below) on this pair; we have found a complete retracement of AB leg which culminates at 61.8 with a strong tendency to make an extension within 127.2 and 141.4.
Tendency: Downtrend ( Bearish )
Structure: ...
As of now, we can see 2 clear consolidation area from USDMXN. As for the second consolidation which is also the consolidation phase we are in, we can see price level retested the previously broken consolidation area. Not only that, we can also see a nice head and shoulder pattern potentially forming. This lower consolidation did signal to us that bearish movement...
price made an impulse move downward and then completed correction. now that it has broke the bearish pennant, wait for sell entry after confirmation. And target is till next swing low.
