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Mxn

USDMXN Pattern like the 2008 crisis. Opportunity for +15% profitThe pair made a strong Parabolic Rise in March pushing the 1D chart to its limits. Now technicals have found a normal balance (RSI = 58.931, MACD = 0.972, ADX = 49.001) as the price is trading on a range. This is similar to the 2008 trading pattern of the Mortgage Crisis, when after a Parabolic Rise, USDMXN entered a range (was an Ascending Triangle then) before a new Top. So far it appears the the COVID pandemic is repeating the same psychological patterns of the 2008 Mortgage Crisis. QE and stock market fear are the key factors. If USDMXN repeats the whole sequence then we can expect the next Top to be roughly +9% from the current one which makes for a $28.00 target. That is roughly a +15% profit opportunity from the current levels. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
2
Short Modernity, Long Tradition.The only reason the time frame is so low is because I simply do not have enough data to work off otherwise, but I'm going to wager that the Swedish Kronor depreciates against the Mexican Peso, being that the Kronor is backed by a pro-immigration millennial gubment amidst a global pandemic while the Peso has both trumpbux repatriation efforts and a government that is actively shutting down borders as stimulus programs. Should the value of Swedish fiat be more than 1.5x that of the small dollar? I mean peso? Think of this as an investment in MXN against Sweden, the weakest pair I could figure, not the other way around. Especially into the warmer months. Who am I to counter-trade HA trend?
SShort
by UnknownUnicorn719792
2
USDMXN: Buy opportunity long term.The pair has just reached the 18.75000 1M Support which has been holding since mid-October 2018. Investors use this as a long term buy entry within this nearly 2 year 1M Descending Triangle pattern. The 1D chart may be bearish (RSI = 37.141, MACD = -0.094, Highs/Lows = -0.0419, ADX = 42.106) but there is a certain feature (besides the 1M Support) that indicates the trend may be reversing. That is the RSI which is on a Bullish Divergence (i.e. on a bullish trend despite the fact that the actual price is bearish). Since 2018 whenever the 1D RSI was on a Bullish Divergence, USDMXN started an uptrend. We are using this opportunity to buy for the long term with 19.500 - 19.650 as our Target Zone. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope