USDMXN has failed for now to post a new low and has failed again to break below the 52w ema, that has acted as a support level over the last few years, and formed a double bottom in the process. Using the Wave 4 post-triangle break of 2017-2020 that we discussed before, we could be looking at potential targets of 26.80 or higher in the next couple of years.
Here you can find my weekly trade ideas.
I have an unconventional style, you should know that before you look at my ideas.
All trades amount to Fundamental, Economical, Mathematical, - Technical information.
Every week on Sunday there is an update because new information is published over the period. Depending on how these end, the trade is either closed...
USDMXN is currently testing a weekly support.
The price is trading above an ascending trendline with some retracement to the upside for a test of the 0.5 and 0.382 Fibonacci level.
According to Plancton's strategy if the price will break below the structure we will set a nice short order.
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly...
There is a probability of first tp to the proposed ( 20.16 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short term goals.
Technical analysis: USDMXN Waiting for the Range Bound and the beginning of the Ascension Trend.
The USDMXN is trading close to a very solid support near the 200 EMA in weekly candle. It has been bouncing since November last year from that same support. The last time it broke the 200 ema was in May 2013; in February of last year it reacted strongly when it touched it. From my perspective, an upward rebound is more likely than a break of the support, which...
USDMXN is bearish but the market is being very corrective on the BOS or weekly level, the market retrace back into previous LH but all that depends on how it react on the market area of interest, a close above it could be signalling a bullish cycle but a close below could be indicating a bearish pressure, It's always Good to wait for a clear move to avoid being...
I'm waiting for this correction to finish to place an order to buy in USDMXN.
I think we can see USDMXN near 21.4 - 21.5.
-We have a channel pattern and a correction to the downside, so I'm just waiting for this trend to change direction.