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Mexican Peso/US Dollar

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MXNUSD trade ideas

🔥USDMXN Buying Opportunity🔥Hello traders, how are you? Since last week I have been looking for a buying opportunity for the USDMXN pair, the price approached a very strong support, a support that has not been broken since the eighth of December 2020. There is also a divergence on the 4h frame for CMF, VWMACD and MOM , this gives a strong indication of the price reversal from the current price or from about 19.55. Of course, it is better for you to follow the price on Monday and decide to enter on Tuesday to see the price behavior, or you can enter from the current price with a SMALL lots and the consolidation will be from the price of 19.55. . . . ❤️ Please, support our work with like & comment! ❤️ . . . Important rules: 1: Use a small lot 2: Don't be greedy 3: Stick to the goals 4: Don't add deals to losing trades 5: Stick to your stop loss Good Luck To Everyone .
Long
by zaidhatem
USDMXN Higher returns on going long here.The USDMXN pair has been one of the most consistent buys in the forex market historically. In the last 6 years in particular there is a very clear Higher Lows trend-line that Supports the price and initiates major rallies when it is touched. The last contact with it was on May 30 and as expected, that caused a strong rebound. So far however it is contained within the Channel Down that started on the November 29 2021 High. As a result, our macro strategy on this pair is to either buy after the Lower Highs trend-line of the Channel Down breaks and set a target near the 1.0 Fibonacci level or buy near the 6 year Higher Lows trend-line again and target the Lower Highs of the Channel until it breaks. If the 6 year Higher Lows trend-line breaks though, take a sell towards the Lower Lows (bottom) trend-line of the Channel Down. Given however that the 1W RSI has its 4 year Support Zone where it just bounced last month, the chances for a bullish break-out are greater. -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
Long
by TradingShot
1
USDMXN | TCT09This is just my Analysis so please be responsible for your own trades. I am still a newbie, still in the learning process, and still not profitable Yet. I am not an expert or a financial adviser. I just started Forex last February 2022. I am posting this for my Portfolio and Trading Journal Purposes so that I can review my past trades with my Progress anytime. ALWAYS WAIT FOR ENTRY CONFIRMATIONS! FEEL FREE TO LEAVE A COMMENT USDMXN | TCT09 Thank You! ☕️ #thecoffeetrader #yourconfluencepartner #usdmxn
by thecoffeetraderofficial
is MXN attractive?...a contrarian view.USDMXN seems to be moving within a downward channel for the last 6 months. Banxico's more proactive monetary policy (rate hikes) than most central banks, particularly in developed markets, have supported the Peso during this period with a few bouts of risk off, like the one of the last few days, that have pushed the cross close to the upper limit of the channel once again. Banxico is expected to continue to hike rates, while the market is also already pricing in over 300bps of hikes from the Fed in the next few months. If Powell does not deliver 75bps tomorrow (as the market fears) expect the Peso to rally once again towards the bottom of the channel as USDMXN currently looks overbought on most technical indicators....
Short
by PD_Capital
USDMXN bullish scenario:As a top-15 oil-producing country, Mexico is tied to its natural resources. The peso shows a tight correlation with other commodity-based currencies, including the Brazilian real (BRL) and the Colombian peso (COP). This interdependence increases the importance of energy fluctuations as well as of data that move crude oil and natural gas futures markets. If the price of oil continues to rise and inflation in the United States grows, the prospects for the appreciation of the Mexican peso against the dollar will increase. In this pair, technical analysis shows a technical figure Falling Wedge. The Falling Wedge broke through the resistance line on 12/06/2022. USD/MXN is forming a bullish formation on a daily chart. If the price holds above this level, we will have a possible bullish price movement with a forecast for the next 27 days with a target of 20.5038. According to the experts, your stop loss should be around 19.4132 if you enter this position. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial
USDMXN: A Swing Long Opportunity from the Bottom-Introduction- USDMXN has arrived at the support area of 19.600 ~ 19.800. This is a strong support level, as we can see many times the price has bounced up from this level. Observing closely in daily chart , we could see that before a bounce from the support area , almost all prices formed a kind of a bullish candlestick pattern. After the bounce, we could spot price moving in a range for about two to three months. Therefore, we will be looking for buy opportunities from the support level . -Trading Plan- From the support level, the price has formed several doji stars. We can also spot a bullish divergence in RSI. Therefore, we have entered our swing long entries. Check out our previous USDMXN trading plan below :)
Long
by NicoBeau_Capital
A reversal could be close in the USDMXNA harmonic pattern seems to be forming in the USDMXN pair, it could be a bullish Gartley, so the reversal could be close. The pair is currently trading below the 50-period moving average on a daily basis without having a very marked slope. I see the strongest support at 19.74 which has not been broken since June of last year and previously served as support 2 times during April of this year. The extension to 127% of the fibo coincides with the resistances of January of this year, as well as those of November and October of last year. If the reversal occurs, the dollar could easily go to the range of 20.5-20.88 pesos and maximum at 21.20. I highly doubt current prices will hold up anytime soon before a change in direction occurs.
Long
by amateur_trad3r
USDMXN: A Trading Plan from the Support Level. -Introduction- USDMXN is currently approaching the support area of 19.600 ~ 19.700. This is a strong support level, as we can see many times the price has bounced up from this level. Observing closely in daily chart, we can see that before a bounce from the support area, almost all prices formed a kind of a bullish candlestick pattern. After the bounce, we could spot price moving in a range for about two to three months. Therefore, we will be looking for short-term buy opportunities from the support level. -Trading Plan- First, we want to make sure that the price will not break the bottom. Therefore, we will be first looking for a bullish candlestick formation at the bottom. It could be a doji star, engulfer, piercing pattern, etc. If a pattern is formed, we will then enter our buy positions targeting the resistance level of 20.150 ~20.200. We expect the price to range for about two to three months from the bottom to the 20.150 ~ 20.200 level; therefore, we will plan to trade this range. However, we are only planning to buy from the bottom because we do expect the price to eventually break up from the range.
Long
by NicoBeau_Capital