Never seen before the uptrend tendency was broken? looks like yes, lest follow our trade from 2 year now and still goin in the same direction. the nest stop will follow the 14.95 ? that's our psychological focus.
Weekly:
-Bearish Weekly imbalance.
-Sellside liquidity acting as magnet for price.
Daily:
-Impulse and correction pattern.
-Bearish daily imbalance.
4H:
-Close below the last bullish imbalance is the confirmation to take shorts.
According with the waves count and considering that we are in a supply zone, we have a long opportunity with this pair.
We will wait the confirmation in lowers timeframes to set our SL
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The US Federal Reserve has kept interest rates steady at 5.25%-5.50% while continuing its balance sheet reduction as planned since May 2023.
In contrast, the Bank of Mexico (Banxico) might announce a rate cut tomorrow.
It's anticipated that Banxico could decrease its interest rate from 11.25% to 11%, potentially applying pressure on the Mexican peso. This...
USDMXN has been under pressure for a few days now and I am not expecting it to stop soon. The US Dollar has been going down because of expected rates cuts to come this year and the mexican peso still benefits from a tighter monetary policy. Now that the fundamentals are in the favor of a continuation to the downside, we can observe on the daily timeframe the...
USDMXN has had difficulties creating higher structure while slowy going down on every failed attempt to break higher. Price has recently broken below a key support which shows that sellers are in control especially knowing the macro economics circumstances. My target is at 16.82000 .
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
This Monthly FORECAST
Opportunity for USDMXN. This setup trading idea is for swing. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
The latest data from the U.S. Commodity Futures Trading Commission and LSEG indicates a decrease in speculators' net short positions on the U.S. dollar, coinciding with the greenback's rebound amid reduced expectations of Federal Reserve easing in March. The value of net short dollar positions fell to $9.799 billion, down from $12.7 billion the previous week,...
The USDMXN pair gave us the most optimal sell signal on our last analysis (October 09 2023) and after hitting our 17.0500 target, is consolidating:
This consolidation is on 1D RSI terms, similar to September 28 - October 28 2022, when the RSI Triangle broke downwards and with that, the price was detached from the 1D MA50 (blue trend-line) and aggressively...
