The USDMXN pair eventually gave us on our last analysis (June 27, see chart below) our desired bullish break-out above the multi-year Falling Wedge and the 1W MA200 and its next stop will most likely be our 21.6500 Target: To view this trend from a more comprehensive perspective, we made today's analysis on the 1D time-frame. The prevailing pattern is a...
Mexico's inflation data will be released Thursday morning, closely followed by the Central Bank of Mexico's interest rate decision in the afternoon. July's headline inflation in Mexico is expected to have accelerated to its highest level in over a year, according to a Reuters poll. However, the core index is anticipated to continue its moderation. Rising...
The USD/MXN currency pair is showing promising signs of a bullish continuation as it retests a recognized demand area. This zone has historically provided strong support and is now positioned to potentially fuel a further upward movement. Large speculators are currently on the bullish side, while retail traders remain bearish, reinforcing our positive outlook for...
The Mexican Peso has recently reached a Demand area that we have been monitoring for some time, and it has shown a strong rebound from this level. By examining technical indicators such as the Relative Strength Index (RSI) and Stochastic, we can observe that the Peso is currently in an oversold condition, suggesting a potential upward movement. Furthermore, by...
The USDMXN pair broke above the 4-year Falling Wedge and so far stopped the rise just before it tested the 1W MA200 (orange trend-line). The last time the pair had a similar long-term bullish break-out was on the August 01 11 break-out. Following a 5-week consolidation, the price then extended the aggressive rise marginally above the 0.618 Fibonacci retracement...
This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is...
Hey Traders, in today's trading session we are monitoring USDMXN for a selling opportunity around 16.67 zone, USDMXN is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 16.67 support and resistance area. Trade safe, Joe.
The USDMXN pair gave us a strong sell signal last time we looked at it (February 19, see chart below): Now a new sell opportunity has emerged as it got rejected heavily at the top (Lower Highs trend-line) of the 2-year Bearish Megaphone pattern and is now trading mostly below the 1D MA200 (orange trend-line). According to the RSI fractal, this price action...
The US Federal Reserve has kept interest rates steady at 5.25%-5.50% while continuing its balance sheet reduction as planned since May 2023. In contrast, the Bank of Mexico (Banxico) might announce a rate cut tomorrow. It's anticipated that Banxico could decrease its interest rate from 11.25% to 11%, potentially applying pressure on the Mexican peso. This...
The USDMXN pair gave us the most optimal sell signal on our last analysis (October 09 2023) and after hitting our 17.0500 target, is consolidating: This consolidation is on 1D RSI terms, similar to September 28 - October 28 2022, when the RSI Triangle broke downwards and with that, the price was detached from the 1D MA50 (blue trend-line) and aggressively...
I believe the area of 8.30 may be re-tested soon. Probably just a support re-test.
The pair has broken the down trend line and a probable up movement is expected. Take your profits early, as the pair is in a down trend since the Corona crisis.
USDMXN has converted the 1D MA200 to support and is rising steadily inside a Channel Up. The 1D technical outlook is neutral (RSI = 54.479, MACD = 0.196, ADX = 35.456) so once the current pullback towards the 1D MA50 and the bottom of the Channel Up, is completed, we will buy again and target a new +5.93% rise (TP = 18.8000). A 1D candle close under the 1D MA50,...
The USDMXN pair has been on a strong rise since July 28th, which was a Lower Low at the bottom of a 2-year Bearish Megaphone pattern. The rally has extended to a point where the price is about to test that 2-year top (Lower Highs) Resistance. The previous Lower High was priced exactly on the 0.786 Fibonacci retracement level and the new one is only a fraction away...
The USDMXN has Bearishly Broken Below a Demand Line and backtested it as resiatnce as well as losing the support of the 89 Month EMA; we will now be attempting to crack the BAMM Trigger Line at the level of B and if we break that a Minimum 786-886 retrace would be very likely
USDMXN...DT (BIG PICTURE) SLO3 @ 18.70 (at Supply Zone) SLO2 @ 18.45 (at Mid-Pivot) SLO1 @ 17.66 (at Minor Resistance) TP1 @ 16.85 TP2 @ 15.50 TP3 @ 14.33 BLO1 @ 13.70 (aggressive) BLO2 @ 12.25 (conservative)
We are expecting an almost -10% drop with a little adjustment in for some 2-4 days in a 4h chart. It's maximum drop will get eth to -20% in case it breaks all technical indicator's rules. Recommendations: Since we are not even in half of the month (March) I suggest not entering even in Spot, let's wait for Marubozu candlestick patters to check its volume with MCVR.
MX the exchange token is shown at the side of the study's new increased volume. We will follow this coin at last for the next 24H to see if there are new gains that we can follow for the long term. These updates are daily updates but can change to long-term views if there is a trend building. We try to scan the best possible coins for the coming times, as...