I do not see a lot of USDMXN set ups. This is a bullish trend following the USD gains of the recent month. MXN seems to be directly correlated an affected by USD compared to other currencies. If the USD makes gains on other currencies it tends to be for the short term that the peso gains and vice/versa
Short hedge for short term USD/MXN traders as Banxico to line up with dovish league:
Tonight the Mexican central bank will leave its key rate unchanged at 7% once again. The fall in GDP in Q3 is due to the earthquake and tornados so that there is no reason for the central bank to react to the GDP data with rate cuts, it would not have scope for those anyway due...
USDMXN has been rising accordingly with the december hikes claimed by de FED
so far price has been consolidating below monthly levels as DXY reaches for new high.
We migt expect USDMXN go go into a deeper correcion towards DL (18.5530) before testing
again the ML (19.2110).
Watch out for an early breakout which might test 19.5530 before a full rally to 19.9880
Strong Technicals on the hourly for a sell between 19.27 & 19.28
Should be short down to the 23.6 at least, but since it has broken the trend without retest lon term it should reach the peak area again.
On September 7, the USD/MXN exchange rate entered an ascending channel. This pattern is a part of a longer-term ascending channel which has confined the pair since mid-July.
The rate’s trading range, however, has diminished during the last trading sessions, as apparent by its failure to overcome the 19.2662 mark—its highest level since mid-2015—on two separate...
A short trade on USD/MXN pair initiated today. The trade is a long term position, which have the characteristics of carry trade (giving interest of about 4.5% y/y for keeping it) and very favorable risk reward of 1.51.
USDMXN due a large retracement,potential all the way to the bottom. It has now bounced off this strong resistance zone twice and is breaking down. Twice breaking trendlines and failing to push through.Candles show huge exhaustion. Stoch shows Twin Peak Divergence.
