Usdmxnidea
UsdMxn- a new rise to 22 zone is very probableThe 21 zone is strong support for UsdMxn and also the drop from 21.80 is contained in a falling wedge pattern
I strongly believe that 21 will hold and a break above the descending trend-line of the wedge would accelerate losses for Mexican Peso.
A buy trade for this pair could have a 1:3 R:R
USD/MXN going Arriba!Hello traders
US dollar is getting stronger against "peso mexicano" after the 7 month decline the started April 6 2020. On September 22 2020 price broke above "7 month bearish trendline" indicating buyers are under control.
This in my Wave count
USDMXN: Big Bullish Movement... Good Buy Opportunity!!We managed to see a crucial retest from 61.8 fib level for USDMXN. A good exotic pair to enter a BUY trade as we see it heading towards the resistance level @23.2200. As we starting seeing USD gaining strength, I believe price level could break 23.2200 resistance and head towards 1.618 fib level where we starts to see strong resistance pressure which we could potentially see a fall from there retesting 23.2200 and heading for the next resistance at close to 25.0000 price level. As of now, I will trade the BULLISH opportunity but do watch out for possible rejection at 24.0000 price level.
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USDMXN NEXT TRADE SETUP(SHORT).As you seen my last week trade setup and our last call on this pair and USDZAR as well, the market almost hit the expected target around 21.5000 area.On the weekly chart market look on a bearish momentum with a possible break of the recent lows in the near future But i should retrace back towards up to maintain its structure(support and resistance) .Price on the daily chart will probably test the daily structure before starting a bounce over it.If the price will break below the structure we will monitor the market for a nice short order.We will consider a long reversal only over the 22.0000 area.
All the entries should be applied if all the rules are applied .
Do comment us below for instance.
USDMXN NEXT TRADE SETUPAll the entries should be taken if all the rules of entries are applied .
Follow it for learning.
do comment us we will guide you
USDMXN Buy SetupDISCLAIMER:
My analysis is just a trading idea! As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Good Luck!
USDMXN UPCOMING SHORT - WYCKOFF BREAKDOWNI love exotics, mainly because they pay...lol
See how this study can help your trading in the coming week.
Yellen,
One Move One Kill
USD MXN LONG POSITION
POSICION SWING
POSICION EN LARGO EN USD MXN ROMPIO TENDENCIA BAJISTA RETESTEO EN LA LINEA DE TENDENCA TANTO EN 61 DEL FIB PARA IR BUSCANDO COMPRAS DESDE ESA ZONA CON UN STOP MARCADO COMO EN EL GRAFICO Y UN POSIBLE TP DE 1 5 SIEMPRE IR ASEGURANDO POSICIONES DESDE EL TP1 R RIESGO BENEFICIO 1 2 ASEGURAMOS BENEFICIO Y STOP LIBRE DE RIESGO.
Swing Setup on USDMXNIt has already taken out 1st resistance on daily and then fallen down from 2nd breakout trendline. It is not trading at 1st trendline and as far as it is trading above 22.20. It will reverse up towards 22.90.
Entry at market
stop at 22.195
Target towards 25.75 and 27
USDMXN [4H] Wait untill to hit on resistance ✅✅USDMXN Wait untill up to resistance
USDMXN wait to hit on resistance and sell it follow trend ✅
if break No trade ‼‼
Resistance # 22.26 - 22.31 +-
Support # 21.87 +-
Goodluck🙏🙏🙏
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.
USDMXN Potentiel Buy Setup After a big bulish impulse, made a big correction, now we are waiting for a confirmation to take a buy position. Our TP is around 23.15000 with a reward risk of 8%. We will move our SL to BE around 22.45000 .
USDMXN Short Opportunity!!! Possible H&S Pattern Forming...As of now, we can see 2 clear consolidation area from USDMXN. As for the second consolidation which is also the consolidation phase we are in, we can see price level retested the previously broken consolidation area. Not only that, we can also see a nice head and shoulder pattern potentially forming. This lower consolidation did signal to us that bearish movement is not stopping at the moment and what I will be seeing a BEARISH movement till 21.380 support level which is also near 61.8 fibonacci level. This area between the support level and 61.8 fib level will form a nice BULLISH strength. If we are able to see a breakthrough of this strong support area, there will be a potential strong BEARISH continuation occurring.
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USDMXN, SELL on dailyprice made an impulse move downward and then completed correction. now that it has broke the bearish pennant, wait for sell entry after confirmation. And target is till next swing low.
