Hi there. Price is forming a reversal pattern to change its direction.
These are the fundamental reasons for a possible USD/MXN bullish scenario:
Sentiment shifts:
Bullish scenario:
A breakdown in US stimulus talks and a possible towards a government shutdown; FDA rejecting or postponing the approval of the Pfizer vaccine; a breakdown in Brexit talks with no...
Hello traders,
topics covered today:
- USDMXN starting to make the right noises picking up from a major low, after retracing nearly all of the pandemic upswing;
- MXN futures volume showing strong selling today, with volume consistent and confirming the inverse move over in USDMXN spot;
- WTI Crude Oil futures, one of the Mexican Peso's drivers, is stuck in a...
Peso! It's an EM currency that I enjoy trading the most, it's the behaviour the MXN moves. It's important to seek out how currencies behaviors are.
Now let's dive into the technicals:
Pattern: Wedge
Support: 19.79294 - 19.71330
Resistance: 19.93628 - 20.07432
Long: Above 1st resistance area and close above 20.07400 areas Target areas: 20.4000 - 20.37660 (200...
After entering at $19.70, now it is time to look for a long term target.
Hopefully this is just the start of WAVE 3, that could move price upward to $31 pesos per USD
Good luck !
With possible news about a roll out of vaccinations going around, I reckon the bulls will push to near highs. From what I can see, we’re looking at an n pattern. This usually means the price will go back. With this, there’s a possibility to short at the top with TP halfway of the n.
USDMXN after the break below the weekly support retest it few times.
The market created an ascending h&s pattern and recently broke below a minor support.
After the retest we can expect a continuation to the lower levels.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily...
Este par esta apuntando a una venta, como ven los compradores se miran cansados , es hora de que los vendedores golpee y creo que va a ser una buena paliza .
It a possibility that it might go back down and hit a new low but this seem like a new low so up we go then back down which might create a new low or go back up
Final wave to the downside is getting completed after trapping so many buyers in, watch price action for long, wait for a proper bullish candle on 1h chart and add in corrections (bullish flags)
Good luck everyone
![USDMXN: USDMXN long update [sorry, got cut off at the end of the video!]](https://s3.tradingview.com/p/pNY520p1_mid.png "USDMXN long update [sorry, got cut off at the end of the video!]")
