In today's #marketinsights video recording I analyse #GBPJPY and #USDMXN!
#Pound Remains Solid:
- MPs support 3-month extension
- Monthly CPI rise not as expected, but improved
#Yen Likely to Weaken:
- BoJ held rates unchanged but acknowledged increasing risks
- Ultraloose policy to be re-examined at October meeting
#MXN Supported By Fed:
Hello, I have reasons to believe USDMXN could bounce.
You can wait for the FOMC press conference in 3 hours.
Price is going up.
You may want to buy on a higher high here:
The leg down is very extended and about now would be a good time for a bounce:
It's possible in a few hours...
After reaching recent highs, to me, the Peso is looking like it wants to start settling within the next shadowed area approx: 18.95 - 19.28ish. Keep in mind the Peso trended in the range for several months this year. 6 Day EMA bounced off the 23 Day EMA and started to trend down as you can see within the chart.
In today's #marketinsights video recording I analyse EURJPY and USDMXN!
Euro, although affected by expectations that ECB will not only cut but probably also QE, is trading relatively firm against a weaker yen. BoJ's ease seems to be taken to heart compared to ECB's as Japan is ultraloose already!
The Mexican Peso, on the other hand, seems affected by...
Priceline of US Dollar / Mexican Peso Forex pair is forming a bullish CRAB pattern and soon it will be entered in potential reversal zone insha Allah.
Volume profile of complete pattern is showing less interest of traders here
RSI is oversold
But MACD is strong bearish and Stochastic is oversold but did not give any bull cross sofar, so I would suggest when the...
Hi All ,
Opening my last usd sell trade . this is a potential trade for 178pips in 2-4weeks . This is not a day trade .
Move SL when price move into our direction 20pips-30pips >>> So on .
USDMXN is giving a positive signal on intraday basis. The price chart forms the lower lows in correspondence to which the RSI indicator forms lower highs. So, the traders are advised to grab the buy opportunity as soon as possible.
Buy at 19.4564
Stop Loss- 19.3220
The price has broken the descending triangle near the support zone, making a double bottom and showing MACD divergence within the process.
We are expecting the price to make a bounce and head upwards. You could also set up a buy stop in the price of 19.6021
Comment your opinions!
Area of support reflected with green arrows - you'll see the Peso bounce off these areas. Currently, the Peso is in a downward trend and considering recent support, I believe the Peso will break down below support and find a range between 19.25-19.50 for the near term.
Pattern: 1M Triangle.
Signal: Bearish towards a new Higher High (dashed line). Bullish once a bottom is made on that zone.
Target: Once the bottom is made, the bullish target should be the 0.786 Fibonacci retracement (worked on all previous instances). Indicative price = 20.0000.