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USDMXN

EUR/MXN - Trade idea - Opportunity! EUR/MXN - Great opportunity. I took the short from yesterday, as the pattern looked like bear flag as well as descending channel and various other aspects. For now technical aspects: Below the support of 25.78 the bears could have further control and head towards the next support areas of 25.68 which matches out retracement of Fibonacci 161.8 area. Above and going out of the channel we will have the bulls getting into control, the resistance areas - 25.89 above that we will have clear direction of bulls next resistance after we will be heading to Fibonacci retracement areas, 0.618 areas. Do keep in mind, wait for clear break of the key levels and any patterns that may occur! Remember: Just a trade idea, not a recommendation.
by Trade_Journal
3
Going in again for the Risk: USDMXN and USDTRY EntryRight now, two forex pairs that I think will have yet another real quick positive retracement curve are USDMXN and USDTRY. I am keeping a close watch on an entry for these two. I also see some positive sentiment indicating more support levels. As always, please proceed with caution. Do your own due diligence. Everything I say is solely on an opinion based basis not meant to warrant as unsolicited or actionable financial advice.
Long
by gamer456148
USDMXN NEXT TRADE SETUPUSD/MXN rates are testing critical near-term support, which very well could be the determining factor in the predominant trading trend through the end of the year. While other currencies are benefiting from the US Dollar’s (via the DXY Index) weakness, the reliance the Mexican economy has on the United States has left the Peso struggling relative to other global growth-sensitive currencies. At the time of publication of this analysis, USDMXN is on 22.2230 and is testing its critical support zone. We can find good sell entries if it breaks this zone and there is no fake breakout and at point 22.100 we can place our sell entries till next support at 21.49300. Entries should be placed only if all the rules of entries are applied.
Short
by TradingSwirls
USDMXN breaking the triangle 🦐The market after a short move has found a clear support zone around 22.250 area. We have seen the formation of a triangle pattern and recently price just break it. If the market will manage to break and close above the 4h structure we can set a nice long order according with our strategy. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Long
by InkyGrip
The sustainability of the Mexican peso’s strengthExperts have been warning about the sustainability of the Mexican peso’s strength. Although prices are widely expected to go down as the safe-haven appeal of the US dollar continues to fade due to the good news from coronavirus vaccine news. The Mexican peso is also gathering strength from the positivity in the global equity market and is harnessing strength from the renewed positivity. However, there are headwinds ahead for the Mexican peso after Mexican finance minister Arturo Herrera said that the country might need to have adjustments of changes in its fiscal plans. This is all due to the disruptions brought by the coronavirus pandemic to the economy. According to Herrera, how the Mexican economy will recover will very much depend on how the pandemic evolves and if a vaccine finally arrives in the market. Of course, a vaccine isn’t expected to be produced anytime within this month of next month, it still pressured the peso.
Short
by Financebroker