HIGH AND LOW SEQUENCE CHANGEDPrice break in a very fast impulse the last low so i expect a not too long retracement and then continuation to the downside until price says otherwise
USDMXN
Storm clouds gathering...=> Markets are still awaiting more details on NAFTA from the Canada front whilst the knife is already being stuck into the bent knee of Mexico.
=> Here we have a minor update to our chart with the lows still managing to hold for now there is nothing to see or do here...
=> Expecting USD to catch a strong bid as the Peso continues to weaken in the weeks ahead. Any dips towards 18.62x are competitive for the mid-term.
=> Good luck all trading this one
RANGE BROKENPrice finally break to the upside, ill looking for a retest and a candle pattern to enter long
Time to retracementi expect price reach the marked zone as a minimum, price creates a new high now it time to create a new low
USD/MXNFX:USDMXN In the #USDMXN chart, the price was received from the support of the channel. The demand reaction occurred in the form of a bullish pin bar formation. The continuation of growth should reach the level of 19.05. The next point for the price is the level of 19.37.
USD/MXN signaling up movement for swing tradersUSD/MXN is signaling a buying opportunity for swing traders.
USDMXN
USDMXN EXPECTING A BREAKDOWNUSDMXN is in the middle of a long term correction. I'm expecting a breakdown after the completion of this upward consolidation. Look for one more potential wave up, the higher the better.
USDMXN LongUSDMXN
Swing opportunity. Price is currently flagging after break of structure with impulsive up move. Price flagged/retraced to the 61.8 fib level and is currently rising. Enter at lowest position possible.
Potential TP1, 2, and 3 marked on chart
We are looking for big down move on USDMXN We think USDMXN has completed the bigger correction and now is ready to move down once the trendline is broken
USD/MXN Long IdeaUSD/MXN long idea. Price is contained within ascending channel. Possible teacup formation. On the daily time frame, the lip of the cup tested price area at 50% fib level. On the lower time frame, price has just tested 50% fib level. Price could possibly reach back to 19.7 area. Trade at your own risk. This trade is for demonstration and educational purposes only.
USDMXN May Go LongIt could bounce from 19.27000. wait for conformation.
Don't forget that only the USD is in play here.
A bad month for the Peso?There is enough information to push this pair, the critical area shows an important cluster of resistance near September 20. As always this is just a part of the information that should be compared and taken into account with many other variables.
Best wishes to all.
USD/MXN long Sherem's live trading #5Long term trade in this channel. MACD still has strength, dollar still is in favor. Stop loss below this recent low/support/trendline.
Account is still around 11k with all the action from last week. Only entering with 2 minis.
Happy trading,
-Sherem
USD/MXN 1H Chart: Decline still in sightThe US Dollar has been depreciating gradually against the Mexican Peso for two weeks now. This movement has been bounded in a descending channel.
As apparant on the chart, the US Dollar has reached the upper boundary of this pattern. In addition, the solid bullish momentum which prevailed yesterday has allayed today, thus sending the pair for a minor consolidation near the upper boundary. These two factors allow to think that a reversal is due in the nearest hour. This should be confirmed by a breakout of the 55-, 100– and 200-hour SMAs, as well the weekly PP at 18.90.
Meanwhile, technical indicators demonstrate that there is still some upside potential in the market before bears are able to prevail in the market again.
