USDMXN 12-5-2019I see a potential Head & Shoulders patter forming on the USD/MXN.
All the details are listed on the markup.
Trade at your own risk! I am not qualified to give financial advice!
Happy trading :)
~TraderTrev
Mxn
USDMXN Bearish Wedge, good RRWe have gotten a second chance to play this bearish wedge. After the previous trade which failed, but gladly was just a small as usual. Not the previous candles are very bullish, but i think this wedge is legit so i don't see it getting above that previous high. I am going to split my entries in 2, i am going to risk one part here, if that trend line on the left and the green box breaks and going to wait a bit for the second half.
Previous analysis:
2nd try, Short NZDMXN 14.02; TP @ 13.00, SL your choice2nd try, Short NZDMXN 14.02; TP @ 13.00, SL your choice
USD/MXN 1H Chart: Short-term channel in sightThe previous forecast worked, and the USD/MXN currency pair has breached the medium-term ascending channel.
As apparent on the chart, the US Dollar is continuing to appreciate against the Mexican Peso. This movement has been bounded in the short-term ascending channel. Currently, the pair is testing its lower boundary at 20.05. if given channel holds, it is likely that a reversal north occurs within following sessions. The general direction is expected to remain north. Potential upside target is the psychological level at 21.00.
Otherwise, a breakout from the channel occurs in the nearest future. Important level to look out for is the Fibonacci 50.00% retracement at 19.75.
MASSIVE CUP AND HANDLE IN USD/MXNMy ideal opening in my previuos chart didn´t hit. An ideal opening would´ve been 19.40-19.80 ish. But as you can see, the daily chart shows a massive cup and handle so I believe an opening right now would be very profitable specially when the new Mexican president is taking over tomorrow Saturday, December 1st. Being a very controversial person, it is almost a certainty that the MXN is going to take a massive hit maybe all the way up to 22. On the other hand, the MACD looks weak, thats why your stop loss should be at the 0.5 support. Stay safe.
USDMXN triangle playLooks like a solid triangle here and from the looks of it we will probably see a break on the upside. But every triangle can go both ways. So i am going to wait for some confirmation first. So i want to see it move like one of the blue lines first before going in the trade. So a break of the triangle and a retest.
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Previous analysis:
USD/MXN short opportunityHi fellows,
There is an excellent R:R short opportunity on this trade. Price may retest prior week's high so be cautious when opening a position.
EURMXN - UPDATE -3rd exotic pair for you guyswatch out for this drop
SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
USDMXN BUY (US DOLLAR – MEXICAN PESO)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
AUDMXN - WATCH TOP FOR THE SELLwatch this top for the sell
SUPPORT THE MOVEMENT WITH YOUR LIKES,
COMMENTS AND FOLLOW FOR MORE
Targets to watch in USD/MXN This a trend analysis on USD/MXN.
Our first indicator on an uptrend comes from the golden cross on October 26, 50 MA crossed the 100 MA. Last two times it happened we saw important increases which should mean midterm profit.
Both the stochastic and RSI are pointing up, but buyers are getting tired, so my entry point should be between 19.43-19.83 with a definitive support at the 0.382 level, do not buy if it goes below this level as this may indicate a trend reversal.
The profit targets are also important as I believe we might have a definitive rejection at the 1 line so plan your locking of profits accordingly.
Also and pretty important, the new Mexican president is being sweared in on December 1st, 2018. Being that this individual is a very controversial person, we might see an important USD take over the MXN which might trigger higher levels of profit above the 20.80 price. Be watchful.
Please, please, please comminity, can I have some feedback on this analysis? I believe that there will be a hell ton of money to make if you open a position and hold it till a bit after December 1st.
USD/MXN 1H Chart: Medium-term channel in sightThe US Dollar has been appreciating against the Mexican Peso since the middle of October when the currency pair reversed from the lower boundary of a medium-term ascending channel near 18.75.
As apparent on the chart, the rate is testing the upper channel line located near 20.10. It is most likely that a breakout from given channel occurs in the nearest future. A potential upside target is the monthly R3 at 20.41.
Meanwhile, technical indicators demonstrate that there is still some downside potential in the market before bulls are able to prevail in the market again.
USD/MXN 1H Chart: Resistance level in sightThe US Dollar has been appreciating against the Mexican Peso after the currency pair reversed from the lower boundary of a medium-term ascending channel near 18.65.
Currently, the rate is trading near the support level formed by the monthly PP at 19.01. If given support level holds, it is expected that the pair will aim for the upper channel line located circa 19.60. Important resistance level to look out for is a combination of the weekly R2 and the Fibonacci 38.20% retracement at 19.20.
If given resistance level holds, the pair might make a reverse and go downside to re-test the lower channel line located circa 18.70.
USDMXN EXPECTING A BREAKDOWNUSDMXN is in the middle of a long term correction. I'm expecting a breakdown after the completion of this upward consolidation. Look for one more potential wave up, the higher the better.
USD/MXN 1H Chart: Decline still in sightThe US Dollar has been depreciating gradually against the Mexican Peso for two weeks now. This movement has been bounded in a descending channel.
As apparant on the chart, the US Dollar has reached the upper boundary of this pattern. In addition, the solid bullish momentum which prevailed yesterday has allayed today, thus sending the pair for a minor consolidation near the upper boundary. These two factors allow to think that a reversal is due in the nearest hour. This should be confirmed by a breakout of the 55-, 100– and 200-hour SMAs, as well the weekly PP at 18.90.
Meanwhile, technical indicators demonstrate that there is still some upside potential in the market before bears are able to prevail in the market again.
Channel Down on 1D. Short.USDMXN is aiming lower as it extends the 1D Channel Down formation (RSI = 31.723, MACD = -0.292, Highs/Lows = -0.1361, B/BP = -0.3496). This is part of a larger 1W Head and Shoulder's pattern that should later trade sideways on its neckline. For now we are shorting with TP = 18.16975.
Long AUDMXN @ 13.8045; Tp @ 14.0806, SL your choiceLong AUDMXN @ 13.8045; Tp @ 14.0806, SL your choice
