On Wednesday, the US dollar decreased in value against other major currencies, including the Mexican peso, by over 1%, due to reports of slower than expected US inflation. This suggests that the Federal Reserve may pause its interest rate hikes. According to data from the US Labor Department, inflation in April decreased to 4.9%, which is the lowest year-over-year...
We can easily see that USDMXN pair is under Elliot's correction waves so, no need extra analysis on this chart to know the possible behavior for this pair
USDMXN long retracement; Sellers are getting exhausted as seen by the CCI indicator, the price is at a strong support level and the down fractal indicates a bullish trend.
Final wave to the downside is getting completed after trapping so many buyers in, watch price action for long, wait for a proper bullish candle on 1h chart and add in corrections (bullish flags) Good luck everyone
All the entries should be applied if all the rules of trade are applied comment us for detail view and understanding
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
USDMXN : ALL THE ENTRIES SHOULD BE APPLIED IF ALL THE RULES ARE APPLIED
As you seen my last week trade setup and our last call on this pair and USDZAR as well, the market almost hit the expected target around 21.5000 area.On the weekly chart market look on a bearish momentum with a possible break of the recent lows in the near future But i should retrace back towards up to maintain its structure(support and resistance) .Price on...
All the entries should be taken if all the rules of entries are applied . Follow it for learning. do comment us we will guide you
DISCLAIMER: My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Good Luck!
It has already taken out 1st resistance on daily and then fallen down from 2nd breakout trendline. It is not trading at 1st trendline and as far as it is trading above 22.20. It will reverse up towards 22.90. Entry at market stop at 22.195 Target towards 25.75 and 27
Wait for break to enter shorts FX:USDMXN FOREXCOM:USDMXN
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Crazy moves but still bagging steady, join the train if you can bulls still in play.
I see a bullish divergence at macd signal line on daily chart!!! Profit Targets: 18,86 18,97 19,13 Stop loss: 18,63 Have a nice day, Berk.
OANDA:USDMXN - Sell ||Details on the chart|| ||Pipdify|| Tamilkumar