Mexico
Expanding Triangle Forming on USDMXNHere on the daily chart for USDMXN there is a possible expanding triangle forming. The first impulse and correction has formed on the 1 hour. More charts will be posted as updates.
South America BULLISHSouth America is on a roll, very bullish.
custom index: ARGT EWZ EWW GXG ICOL ECH EPU
Nothing is foreverThis is a difficult one, so I'll take it carefully. Since 2010 they started a very stable uptrend however it seems to me that this trend is about to end.
I take it with caution and one step at a time using the most conservative levels but I would not have any problem shortening it to the area of 41000.
In Mexico there are elections this year however I do not think it has a direct relationship as the upward trend started in 2010 ... it can not last forever.
lAST CHANCE TO GET IT CHEAP.this is the last chance to get XRPs in a cheap price, cmon dont loose the train :)
ULTIMA OPORTUNIDAD DE COMPRAR A BUEN PRECIO!
NO SE PIERDAN EL TREN
Cheers from Mexico.
Capitalism or socialism for Mexico in 150 daysMexican elections will be held on 1st July and candidate Lopez Obrador is the front runner.
According to Lopez Obrador:
"Venezuelan democracy is better than the Mexican one."
"We will revert PEMEX privatization. Oil belongs to the people."
It is unknown if Lopez Obrador would convert Mexico in the next Venezuela or not, but he is already spooking investors .
In the best scenario (blue star) USD/MXN could find support at ~17.4. In the worst scenario (red star) USD/MXN would increase and may find resistance at ~22.
Watch for the USDMXN breakoutThe next days will be decisive for FX_IDC:USDMXN now that NAFTA talks have officially begun . In the chart there are 4 relevant price levels (shown in bold green). And 2 short-term price levels (in thin red).
If the price breaks the short-term resistance at 18.04 then we would likely see the price reaching 18.40 or even 19.28 if NAFTA negotiations don't favor Mexico.
If the price breaks the short-term support at 17.48 then we may expect the price to reach the Pre-Trump support level at at 17.16.
Events that would favor the first scenario would be:
A full withdrawal from the NAFTA deal.
While the second scenario would be more likely in the event of:
A soft NAFTA "tweak".
An increased feeling of a "Trump's failed agenda".
An armed conflict between the US and North Korea.
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"In the business world, the rearview mirror is always clearer than the windshield. " - Warren Buffett
$USDMXN Looking for the Peso to get stronger....Looking for the Peso to get stronger as more folks realize the value to be had holding pesos!
Gann eighths, pure sweetness.
Buy First Majestic Silver up to 8.20 USDIt´s been the right thing to wait with any recommendation in the mining sector. But now I feel the time is right. As explained I believe silver has a great potential over the next 8-12 months. The best way to play a multi-months rally in silver are some of the best but currently beaten down silver mining stocks.
First Majestic Silver without a doubt is one of the best companies in this sector. Focused on silver production in Mexico the company is run by mining legend Keith Neumeyer.
Although First Majestic has been consolidating sideways since October last year I think the stock is at a very interesting juncture.
We might be a bit early to the party but the risk/reward is just phenomenal! With a stop loss at 6.50 USD and a 1st profit target at 19.00 USD the idea has an initial 1:3 risk/reward-ratio. But First Majestic could easily take out 19.00 USD and we might scale in a couple more times once the stock has clear the downtrend line at 8.20 USD.
Buy Endeavour Silver Corp. up to 3.20 USDAnother silver stock that I really like and that I have already recommended in the past is Endeavour Silver Corp.. Although Endeavour had some issues in the last couple of months I continue to believe in Bradford Cook and his team. Endeavour was one of the best performing silver stocks in the first half 2016 and should offer massive leverage in a new silver bull market.
Technically the stock as corrected back to the 61.8%-retracement around 2.80 USD and is running into a bullish wedge. With a stop loss at 2.60 USD and a 1st profit target at 5.90 USD this idea has an initial risk/reward ratio of 1:7.
Buy Endeavour Silver Corp. up to 3.20 USD (NSYE: EXK)
Place a stop loss at 2.60 USD
First profit target 5.90 USD
Timeframe 6-12 months
Risk/Reward 1:7.7
USDMXN : end of downtrend ?USDMXN
Now it is move to make wedge pattern,
We can wait it break up to buy , or wait it throwback to trendline for buy is ok.
CX: Interesting monthly and quarterly signals$CX is an interesting company here. I have liked the negativity surrounding Mexico, and emerging markets since Trump got elected, now we have a solid breakout on strong volume, and a potential monthly and even quarterly uptrend taking off from here.
$CX has had strong growth in the past quarter and year, I think it can be a solid performer going forward. Management efficiency has been high, when compared to the average of the past 5 years.
Fundamentals are solid, with a decent 5.9% earnings yield, 15% free cash flow yield, this company might be a great value play going forward.
Cheers,
Ivan Labrie.
A red week in store for MXNWith Banxico raising rates to 7% I think $16 is a possibility for the Peso in the coming weeks.
I posted about the Peso being oversold on Friday and longed it back to $18, however I am short for the rest of the week.
Mexican Peso: Weekly uptrend triggered, above resistanceThe Mexican Peso is now trading above the US Presidential Election key resistance level. Price could soar from here, we can enter longs and add on dips, or average in during a few days to a month. Returns are over 10% at the very least, in the coming 2-3 months.
Negativity against the Peso kept many traders skeptical of this rally, all the way up. This is usually the case with any trending market. It's key to identify which are trending to ride significant moves. We can find very low risk entries using the T@M methodology created by my mentor, Tim West.
Best of luck,
Ivan Labrie.
Can USDMXN break strong resistance and move further south?Hovering on strong resistance as the Mexican Peso once again has a run of strength versus the US Dollar. Can it break these levels around 18.3 to target early 17's? Bounce here could see support at just under 19?
XAUUSD GOLD para un short Cercano de 77 pipsEncontramos una linea de tendencia bajista con un punto clave de resistencia y tendriamos una posible venta del Oro Dolar Americano.
Con un Stoploss hasta el siguiente punto clave con 34 pips y con una posible ganancia de 77 pips hasta el siguiente soporte clave del grafico.
USDCHF Retroceso, uso de Fibonacci y patron ABC, 100 pips gainAnálisis que hicimos en la clase de HouseTrade con Justin Adams, Master Trader de SwipeTrades de iMarketsLive, el Par USDCHF muestra un retroceso y es probable que llegue al punto clave del Fibonacci 61.8% y de ahi al ser un movimiento en corto de alrededor de 100 pips con un StopLoss de 30 pips cerca del punto 1.00477, por lo tanto podriamos poner la alerta con esos datos
USDMXN setting up for a potential long reversalThis is one of the setups I'm looking at for next week. The USDMXN on the daily has one of the cleanest trends of any pair recently. However, it has been overextended and is nearing the 200% Fibonacci extension level.
At the same time, there's a very strong demand zone close by, around the 18.30000 level. Last time that price dipped into this level, it shot up with an incredible force and it only makes sense if there would still be buyers left to pick up the price once again.
Technically, we can already see a slight RSI divergence and a slight slow down of the price, but nothing too much in terms of an actual reversal yet. Fundamentally, this setup would be aided by a strong US economy. So far, this is the case and a better than expected NFP release tomorrow would only help.
This setup still needs some more time and I expect this to unfold sometime next week. My alert is set around the 18.3 level.
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