Retest of channel and descending trend line. Target test of 200SMA
Trading Techniques with the Three-Line Break Chart Some traders prefer waiting for an extra confirmation of a trend reversal. Depending on your risk, you can follow rules below to confirm a bullish trend or bearish trend. The idea of waiting for extra confirmation would involve a tradeoff between risk and reward. The longer a trader waits for a confirmation of a...
bearish candles here and RSI is making lower highs. Wait until the close before going short.
It has been a strong rally in the pair, so let's try to jump on it. RSI have fallen pretty fast, which is a bullish sign. We are testing crossover trend line and are in a wedge.
I'm already short the USD against AUD and CAD, but I'm looking to spread my risk around. This pair offers a obvious shooting star.
Strong sell opportunity , sell with the first SAR signal down on 4H. Good luck :)
The break of the A) support clear the possibility of an expanded flat with a C) wave forming perhaps an ending diagonal, the fibo targets for the C Wave are between 12 and 11.60 roughly
The mexican peso is poised to weakening due the Elliott Wave pattern that seems in place. Although is not really clear the primary (black) count, even if the 12.5 breaks down still the alternative posibility of an expanded flat (red count). Fundamentally shows also weak if USA decelerates faster than expected and if this leads to a downward movement in oil prices...
USDMXN has been responding nicely to Fib retracements at 50% and 76%. Now breaking trough the 1% the target is set for 12.75
USDMXN Neutral, August5th. 10:00 pm. Spot 13.15 As this chart shows, the USDMXN pair is testing the two supports. First, the rates now reached the support formed from May - August 2010. The market formed a triple top and failed to break through the resistance. It should now form strong support. The second support is the trend line formed during Oct 2011 and Apr...