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Euro / Mexican Peso

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EURMXN trade ideas

EURMXN next zonesMy actual and more recent status from la Paz, MX. Expecting mainly, shor term EUR strenght (LONG) and medium long term MXN to remain and keep strong (SHORT). I put the zones which I see interesting. Mexican Peso will remain strong however I see that in short term is will get a bit weaker. So those zones are OK to keep milking. Iniatially I'm LONG and then if rejections are confirmed I would prefer to go SHORT. If not I see some zones in the boxes for consolidation. On the next two weeks I see that maybe we can reach 20.31 levels. I will see until my return after my stance in La Paz, so Ok for me the 25/03 to see again the chart
by ehernandeza90
EURMXN may break lower. Usually I am a buyer of descending (or falling) wedges when we reach support as I typically would be looking for an eventual breakout higher. However, this time may be different. The reason why is as we are hitting support, the pair is also trading below the long term 61.8% Fibonacci retracement of the February 2020 lows (pre covid) to the April 2020 highs (post covid lockdown). The MXN has outperformed during a "risk off" market recently which is also a risk, especially if stocks overall maintain stability or rally. For now, while below the 200dma I will remain bearish the EURMXN unless we see a major breakdown of equity markets globally. 
Short
by ForexAnalytix
How To Trade The Ascending Triangle + Double Bottom ComboWait For The Close Above the Neckline at Horizontal Level 24.07952. After the close above level; resistance level turned support. Wait For The Retest Of The Neckline At 24.07952. Watch For A Pin Bar or Rejection Candlestick to form at the horizontal neckline. Enter Trade At The Closing Price Of Pin Bar or Rejection Candlestick. Set Target Price Using Measured Objective Of Pattern. Measured Objective Is 24.37017. Measured Move Is 2906.5. Height Is 2906.5. Exit Trade At Target Price.
Education
by TradeLive-