peso peso!I see a correction forming after the breaking the neck of a doubletop pattern, like and comment if you agree!
MXNUSD trade ideas
USDMXNPrice is still heading to the downside it might reject on that first demand level or even break it to the downside to demand zone whatever happens im not looking to take trades below the green zone there because there is a lot of manipulation there....but for risk takers you can take buys at demand zone two....for me i'll be looking to short this one at that supply zone....only time will tell...
A Quick USD/MXN Long TradeIt is maintaining support very well and should bounce off.
The stop loss is tight, if it breaks support it will most likely fall fast so you would want to cut the trade quickly.
The take profit is at the recent high for a quick profit.
A divergence has appeared on the RSI as further confirmation.
usdmxn ideai think its a buy again, getting close to hit the 50day ma, should it close below it , its a short. macd looking bullish still. good luck
is this what i think it is? (Descending triangle breakout?!)Over the last few days the USDMXN pair has developed lower highs and is showing signs of an early development of a descending triangle pattern. Being that this is coming off an uptrend, we can assume if it has at least 3-4 taps on the support/liquidity zone around 20.10 , it can go from 20.10 on the last tap straight into 20.85-21.00 , given that the extension of the breakout is usually around the length on the mouth of the triangle. Hoping this plays out as I did hit a stop loss on my previous analysis of shorting the peso into 19.50. Previously I failed to mention what could happen if this reverses and breaks the 20.10 level, if it does happen to reverse on our call, this can also break the 20.10 level, plunge into 20.00 , back to test new resistance of 20.10 then down to the next heavy level of resistance at 19.90-19.80 . Stay alert, take my analysis with a grain of salt, and lastly, lets get this smuddy. LOVE Y'ALL!
- Lui
Entry 1 TP1 (LONG)
20.09 20.40
Entry 2 TP2 (SHORT)
20.40-41500 20.10
Entry 3 TP3 (LONG)
20.10 20.80-21.00
PS, I've linked a reference for you all to check out on how the pattern looks, how it can play out if it does develop. Also each one of the trades I take has only a 1% Stop Loss in case the markets do not move my way.
an other GREAT! now setting a new long opportunityopening long position in 20.12 & 20.08
Key hold levels are:
20.14
20.06
Fake break or fake test is why long positions are around these levels.
Expecting 20.40 for next move up
Testing below 20 means review strategy and possible taking loss
USDMXN: BEARISH STEAM OUT??Hello Traders;
Here's my view on what I hope to see on the charts of USD/MXN...
Price gets to my Weekly BERISH support trendline. IF we get a BULLISH break through BULLISH RESISTANCE(indicated by the GREEN ARROW), THEN WE LOOK TO KEEP GOING long UNTIL WE HIT OUR FIRST TP area(21.97723).
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Thanks Guys.
EM Currencies vs. SPXTrying to assess risk aversion by plotting SPX - EM currencies (TRY MXN RUB) & DXY
USDMXNEn México probablemente vayan a tener que seguir bajando tasas para poder recuperarse. Estados Unidos siempre se adelanta, y el dólar es el dólar.
Seguramente saldrá del rango en el que se encuentra actualmente y romperá hacia arriba.
PD . Solo una opinión, opere con cuidado e investigue, no se emocione ni se deprima demasiado, manténgase tranquilo. Edúcate tu mismo. Somos nuestros propios dueños de nuestros oficios. ¡Lo mejor de lo mejor! :)
Un LIKE sería muy apreciado. ¡Gracias por adelantado!
LONG POSITIONThe bias in the USD/MXN still favors the upside, despite the recent correction.
USD/MXN is trading modestly higher on Wednesday, after retreating for two days. Price held above the 20.00 area, keeping a bullish bias in the short-term. Another test of the 20.45/50 area seems probable (downtrend line/ 100-day simple moving average).
The positive bias has a critical support at 19.95/20.00, the convergence of the 20 and 55-day moving averages. A decline below would point to the resumption of the long-term bearish trend, now being challenged. The RSI continues to back away from 70, starting to leave room for another run higher. Above 20.30, the greenback should gain momentum to extend the upside. Resistance levels above 20.45 emerge at 20.60 and 20.80.
USD/MXNPennants are the most effective formation that almost, %95 of the time will work.
Go bearish on this pair as on daily chart Pennant is broken.
USDMXN - IN A RANGEPOSSIBLE COULD SEE RETESTING 20.20 S AREA AND THEN BACK CLOSE TO 20 S LOWS ...
MUCH WILL DEPENDS ON THE RISK MOODE OF THE MARKETS ..SPECIALLY THE S&P AND DXY
GOOD LUCK
Mexican peso loses ground against recovering dollarWith the President of Mexico Andres Manuel Lopez Obrador testing positive for Covid and a delay on stimulus deals in the us push
US dollar higher. also federal reserve spokesman Jerome Powell mentioned how they will do anything necessary to keep the US DOLLAR
the reserve currency of the world. if the US dollar continues to gain momentum we can possibly see a jump to 21.00-21.50
or on the downside push to retest support at 20.00-19.80
This could go either way Looking at past head and shoulders we looking at a possible bullish trend to get back to it high in September we hit a new low last week but this could be a fake out and give us a new high for it as well I would sell till i get a good buy entry
UsdMxnThe price reached a resistance zone at 20.66250, went down and again returned to this zone. A rise in the weekly chart, however the macro trend is downward. I expect a drop at 19.58.482, then 19.04460 and finally a TP at 18.55124.
