1. Usd/Mxn has found support on the day chart.
2. Usd/Mxn has retested that support on the day chart.
3. Usd/Mxn has a double bottom reversal pattern on the day chart.
4. Usd/Mxn has a buy signal on the hour 1 time frame.
5. It is safe to buy and hold usd/mxn
This is my personal take on the upcoming rebound of the MXN peso.
The past few weeks, We have seen how key resistances have failed to stall the dramatic gains of the mexican pesos vs the dollar of over 30%.
By closing on the 17.26 -17.29 mark it will trigger a key important level of support, which could propell the exchange to hit the highest mark since March...
Disclosure: I was said that I am violating the rules, never said which one, I am not selling anything, nor spreading hate or political speeches, nor offending anyone.
That being said,
The chart speaks for itself.
Usd/Mxn is at a Extreme Level of support.
Usd/Mxn has bounced from this level of support on the 15 min time frame.
The Idea is to buy this trade and put my stop loss under the daily candle.
Im using risk management and I will have 3 trades with 3 take profit areas.
It will fun for weeks...
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USD/MXN has broken the yearly opening-range with price now probing below the 2017 lows at 17.4515 - watch the weekly close.
A break lower keeps the focus on the 2016 lows, which converge on the 25% parallel near ~ 17.0505 .
Resistance eyed with the median-line / February low close around 17.9490
Michael Boutros , Sr Technical Strategist with...
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...
Mexican peso at monthly support . Bank of mexico rates stands over 11% if they continue to rise interest rates expect the trend to continue down . I think they no longer increase interest rates or they will halt their economic growth.
usdmxn is on the way to more falling in the deep of the market , please traders be respective and do not think to buy this market just sell it without any thinking I wish all good for you
Looking at usdmxn here i'm seeing a rejection formed with a Bearish OB on the Daily time frame. with Consolidating in a Triangle formation where price has finally broke and closed below this structure.formation At the same time we are breaking A major support area where we can see price continue to drop to the downside!!
This is for information and demo...
