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Peso

USDMXN to Rally to 22Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The forex cross USDMXN is currently in an ascending triangle setup with resistance observed around the 21 price level and the support trend line seen around the higher lows of 20.12 and 20.25 respectively. Expectations are for USDMXN to rally towards the 22 price level. Failure of this move will be seen if USDMXN declines below 20.25 On the longer termed Daily Chart USDMXN is trending higher, with the next level of resistance observed around 21.50 Technical Indicators There has been positive crossovers on USDMXN’s short (50-MA), medium (100-MA) and long (200-MA) term fractal moving averages. USDMXN is also trading above these respective MAs. The RSI is above 50 and the KST is in a positive mode. This indicates a bullish move in USDMXN. Recommendation The recommendation will be to go long at market, with a stop loss at 20.25 and a target of 21. This produces a risk/reward ratio of 1.75. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to USDMXN.
Long
by Ceddy86
USDMXN bottom of rangeInvestors are back from holiday, labor day is over, there is today some jewish holiday I do not know the impact but anyway the stock market will be open today, maybe a bit slower than it should because of that holiday. We'll see what happens, but unless something insane goes on I see no reason for this currency pair to suddenly go crazy. It has been in a boring range for a few months and by now it has repeated the same price action a bunch of times. I don't do this often, I put a couple of indicators on the chart, mostly because of the pretty colors. They do not say anything special, simply there is: - The MACD (and EMAS) crossing. Over and over. The MACD cross is quicker to visualize than the price bottoming before going up, which never looks the same - The "Max Gain" (and ROC to an extent) showing in a quick single look the expected upside, without having to measure 1 by 1 every previous upswing We can look for 1 to 1.5%, which is the 2 day ATR. This is very small, and because of spreads risk will be at least 10% bigger and reward smaller by a few percent. Risk to reward gets crushed. It should be at least of 3 (2.7 left after spreads). And be careful not entering late in the evening as spreads widen massively. I don't like this very much because of the small nature of it, so it should be easy to let it come to us. Really wouldn't care missing out. It could go straight up 2, 3% or more which would make it more interesting. Not only do spreads decimate the payout assuming this is actually good, but you won't make any kind of decent money, the only way would be to use serious gear and that's really a bad idea. I see no reason for the odds not to be 50/50, or at least 1/3, and since it is possible to get a reward greater than twice the risk, plus it's september and I think it can go well past expectations. Really doesn't get me excited, it's just so small and expensive and mediocre. You guys like this kind of stuff?
Long
by MrRenev
1
USDMXN Channelling Higher, Targeting 20.23Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The FX Cross USDMXN is channeling higher and is currently and the lower end of the support channel around 20.05. Expectations are for support to hold and the FX Cross rally towards the upper end of the trend channel at around 20.23, 0.81% away. If this upward price movement breaks down, a stop loss should be set at around 20. Technical Indicators The short (25-MA) and medium (75-MA) fractal moving averages indicates a change in trend in USDMXN, supporting the short term bullish view. Currently USDMXN is trading above these respective moving averages and there has been a bullish crossover on them, with the short term fractal moving average crossing above the medium term fractal moving average. Recommendation The recommendation will be to go long at market. Stop loss will be set around the 20.00 price level and a target of 20.23. This produces a risk-reward ratio of 2.50. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in USDMXN .
Long
by Ceddy86
Foreign Currencies Are About to PumpI recently did a chart on the DXY showing how its still bearish on longer time frames despite the recent run up it has seen on shorter time frames. If we flip and look at the EURO, it is also agreeing with this sentiment as it has seen a bounce off a key support level after breaking a MULTI-YEAR resistance line in November that could now flip as support. If this idea holds up, look for a massive rally in the EURO where the first true level of resistance is not found until 1.25. Should this be the case, expect a run up in the PESO, YEN, RUBLE and a multitude of other foreign exchange currencies vs the US dollar that could last months and possibly years.
Long
by TradeVibez
USDMXN | SHORT-Values- Entry Range: 19.93293 - 19.97017 Average Entry: 19.95845 (RRR: 1.86) Stop Loss: 20.00931 Profit Target: 19.86254 -HOW TO ENTER MY TRADES- 1. Ladder your entries. You'll want to ladder place your orders exponentially within the Entry Range to the point your RRR is atleast 1.5 if fully filled. 2. Only first touches are valid. If price is rebounding back into the entry zone after either the profit target or stop loss was hit the entry zone is no longer valid. Example: Trade Idea: Valid and Invalid Entry:
Short
by Event0011
Fade the dollar move, long the Mexican Peso. The dollar has recently broken out against a variety of EMFX crosses. Interestingly, the picture is not the same in the G10 space. With the 10Y yield breaking higher, the narrative is that foreign investors are suddenly attracted to US yield and the dollar receives a bid as a result. We believe it is simply due to rapid growth and inflation expectations changing in the US to the upside. This is bullish to the equity market and bullish risk in general. Add to the cocktail the mix of monetary and fiscal policy in most of the world, and you have tailwinds that will send EM markets higher. Banxico recently cut rates citing soft inflation, however, the majority of Mexico data remains rate-of-change positive. Technically, the dollar reached the 200day exponential moving average and broke out from the prior downtrend. We are fading this as a "fake" breakout. Moreover, we wouldn't be surprised to see dealers hedging gamma above the 20.50 level, causing the slight overshoot. We enter long MXNUSD at 20.80, with a stop at 21, targeting a return to 19.54, where we will book most of the position, and keep SOME in case we see a follow-through downside break.
Short
by MT-Macro
USDMXN - Peso technical analysis! 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 EMA Area) Short: Below support areas 19.71330 and confirmed close Target: 19.54620 - 19.30700 Key tip: It's important for confirmed closes, as you could get a fake a break out as well. Remember: Just a trade idea, not a recommendation. All the best, Trade Journal
by Trade_Journal
2
USDMXN - Peso - Short & Longer term view.Technical & Fundamental View: Fundamental View: Longer term I do see dollar weakening this doesn't mean it's going to 0 and we all jump into crypto's! Just personal opinion but I do think the further QE we have inflation target of 2% DEC FOMC meeting is something I am very interested in and how large will the QE be and given the great vaccine news ..It's something to think about. QE and other tools they have, they are basic tools that are used within economic cycle, which you can research in your spare time and if you would like to know good books regarding that, message me privately or comment down below I'd be sure to help. I see further decline in the dollar longer term due many fundamental factors as I stared and you can read my last post on EUR. However, when trading think of good R/R. We are in range bound areas, in most of the G10 currencies, just look at the euro 1.16-1.19 for good solid few months...! But I am not jumping into the market. When the market is range bound in technical stand point its going to break out eventually but short term, take advantage of the intra-day set ups for this example: I have been long Peso since 20.25353 for few days it didn't move yes frustrating but then it spiked higher on lower time frame I saw bullish formation, now my target are next resistance areas 20.800 areas. Does this mean you jump in right now? No - Do what your trade plan says, when I look at trades I personally look at good R/R this trade still does have potential. Technical analysis - Long and short term: Key support: 20.14100 Key resistance: 20.80200 & 21.11600 Short term formation: Small Channel resistance is 20.800 areas (It can be seen Longer term formation: Bear flag Short term view: Up towards 21.800 Areas (Good resistance Zone) and if it edges higher keep an eye on 200 EMA. Long term view: Further decline towards retesting 20.14100 areas and perhaps decline longer term to lower areas of 20.000 areas which matches 161.8 Fib Retracement. Remember, market moves in waves! Key tip: Follow your own trade plan & Journal your trades (Remember - Just a trade idea, not a recommendation).
by Trade_Journal