The Trend is up...
We have a pullback... We have a double bottom on the day chart...
If you buy Usd/Mxn you are buying in a uptrend...
But there is one thing!! This is a exotic pair and you need to use extreme risk management because it can shoot up and down in gigantic waves...
So please trade this one at your own risk..
Good Luck
11 Months: First close below sma with Pin ball Buys
3days: Made 1-2 Pin ball Buys
Intraday divergence and expecting test of previous Low and continuation during US session
Look for Entry Pattern on Small Time frame:
15minutes already showing Divergence, Further 5 Minutes should Follow suit with range and then divergence, currently on strong...
Hi traders
We can see an on-boing classic distribution on MXNUSD daily chart.
RSI is in a downtrend which shows that there's less and less strength in the market.
When it comes to the price action, lower highs and lower lows suggests that we are about to get a mark-down and it may happen pretty soon.
3 targets (take profit levels) for shorts are shown on the...
USDMXN has converted the 1D MA200 to support and is rising steadily inside a Channel Up. The 1D technical outlook is neutral (RSI = 54.479, MACD = 0.196, ADX = 35.456) so once the current pullback towards the 1D MA50 and the bottom of the Channel Up, is completed, we will buy again and target a new +5.93% rise (TP = 18.8000). A 1D candle close under the 1D MA50,...
The USDMXN 18.5000 level has capped the rally in recent weeks. And you can see the strong descending trend line capping the market. Even the rally this week has tried to keep a "lower high" but we think this is just a byproduct of the descending trend line. A break of the 18.5000 level would target 18.8700, but 20.2100 would be more likely. While above the 200dma...
Looks like we want to break the trend line. 1 hr candle looks like it wants to close on the other side. Could be a good scalp down. If it plays out and you missed it, there is always a retest where the candles closed below. You should have a 2nd opportunity there too.
Good luck out there. Hopefully in the next half hour, we should know if were staying up or down....
Last week USDMXN traded between 17.85 and 18.46. Given Banxico's decision to maintain its benchmark policy rate at a record high of 11.25% at its September 2023 meeting, as widely expected, and FED's expectation to hike rates if the economy remains hot... Short term, (weekly) my bias is for dollar weakness. I am looking for dollar strength around the 105.917 DXY...
See the cart and comments about the currency pair.
It could see some resistance here and trade back in between the wedge for some time still.
Eventually, it will break out of this wedge and establish the trading zone.
2 ideas for this chart. If we close on the top side of the diagonal yellow line is a possible buy. If we don’t close we can take a sell. There will be a shake out so make sure you have stop loss active.
The price of the dollar has fallen significantly until the beginning of August, showing a decline with considerable bullish strength.
- We hope that the price of the dollar reaches at least 19.5000.
- We have to wait at least for the price to fall since it has taken a target this week, we expect the price to fall back to the 17,000 -17,300 area
Today we saw the Mexican inflation come out lower than expected but it is not where the Mexican central bank wants it to be yet. For that reason, the work to slow inflation down is not done yet and they will have to at least keep the rates high... On the technical side, we see price failing to create a new higher high and we just broke below the structure for a...
The USDMXN pair has been on a strong rise since July 28th, which was a Lower Low at the bottom of a 2-year Bearish Megaphone pattern. The rally has extended to a point where the price is about to test that 2-year top (Lower Highs) Resistance. The previous Lower High was priced exactly on the 0.786 Fibonacci retracement level and the new one is only a fraction away...
Same reasoning as my previous ideas, this pair looks undervalued when looking at the USD fundamentals. We found a solid support and we are creating higher highs and higher lows...
Looking for a simple buy this week and next week. Be patient with this trade. Market execute or await pullback to enter....Trade could possibly reach 17.55 but I'll be out at tp1. Enjoy!!!
