This exotic currency pair has been in a bullish trend over the past few weeks, due mostly to USD strength. The news of the origin of a potentially dangerous coronavirus variant emerging in South Africa at the end of last week caused many countries to shut their doors on South African and other African travel, and strongly hit the price of Crude Oil on fears of...
Welcome Hyperspace Travelers,
This is a time-series analysis of the macro 1 week timeframe of USDMXN.
It is of my opinion that the Peso is going to see a nasty hyperinflation cycle.
In previous instances, a rising DXY is a catalyst for a rising Peso; as weight of the co-variance of R becomes redistributed fundamentally.
A rising USD, at specific...
Hello Fellow Traders, Here is a Updated Analysis For USDMXN.
The Best way to follow my Analysis is if the following conditions apply.
1. Wait for the Market to Show you some Rejection / Confirmation / Direction
2.Wait for confirmation(Price Action Confirmation Aka . Pinbar , Bullish or Bearish engulfing / Break of structure Aka Support Or...
Another typical procedure can be seen here, the combined advance by buyers cannot be prevented in the long run. This advanced would (and now we are seeing....) lay bare the base on the strong support at 18.9x. Much worse for Sellers, the attack on the highs involves 22.9/23.0 as a main target. For the strategy, the correct plan now consists of holding and adding...
The main view of this trade idea is on the 2-Hour Chart. The forex cross USDMXN is currently in an ascending triangle setup with resistance observed around the 21 price level and the support trend line seen around the higher lows of 20.12 and 20.25 respectively. Expectations are for USDMXN to rally towards the 22 price level. Failure of this move...
We are looking for a long movement, we have an ascending channel, a broken bullish triangular pattern that is now retesting the support zone.
We will wait for the break of the basjist trend line formed in lower timeframes.
Posssible target: 20.92789
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
- Third TP back to point C
Deep Crab Pattern:
- A-B leg can retrace anywhere between 0.382 up...
USDMXN is bouncing from a long consolidation box and now trading above the fib level of 61%. So we are expecting that bulls are active in it and they have some good targets towards 22.5 followed by 23.00. For bears, there is a support zone to be broken around 21.00 below this area they can activate their trades plans. Good Luck!
Looking for more long positions.
If price can hold above 21.46 then we could see price continue to push to upside for the rest of the week.
Its been a strong month for this pair. unltimately if price retraces i could look for an entry at TP5 or 6