USDMXN
9 Trade Plans from Today's Live StreamQuick Video recapping all trade plans from the earlier live stream
TRADE PLANS INCLUDE:
EURUSD
XAUUSD
USDCHF
GBPJPY
USDCAD
USDZAR
EURAUD
USDMXN
CADJPY
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Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc.
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Is USDMXN heading to $19.50 ??? After observing price is finding resistance at $20.00, and Stochastic indicator is at a level of 92 (pverbought), price might move downward to a lower low, probably $19.50
I am personally entering a short position
STOP LOSS $20.02
TARGET 1: $19.70
TARGET 2: $19.60
TARGET 3: $19.50
Not financial advice, do your own research...
Mobile (on the go) analysis I was asked to put together and analysis for this pair. I am pleased to see some strong support and resistance in play creating positive trade sentiment.
A rejection at current resistance at market open will sentiment towards a bottom support retest at 19.53400.
A break through resistance at market open will continue to make attempts for breaks through 20.19600 and 20.66400. If this occurs a huge momentum towards 22.00000 will be in play.
MACD/SIGNAL cross in play and heading for 0 line. RSI dropping out of overbought zone.
Pay close attention to payouts at support and resistance mapped.
Again this is on my mobile phone so my apologies for the charting.
Please comment with thoughts and ideas. Thank you
BUY USD/MXN 1W TIME FRAME (BUY HOLD). Placing a buy position on USD/MXN
Due to rises in COVID cases and new strains of COVID weighing in on Mexican PESO.
The Mexican Peso remains vulnerable to a risk-off move, meaning the US Dollar will be picking up safe haven momentum. If this occurs, I would look for a break above 20.50 to start considering price reversal, with a close above the 21.00 line as a confirmation of short-term bullish bias.
Risk/Reward
Please send comment with feedback.
#BLESSESPIPS
USDMXN potential bottom reloadedSo USDMXN is respecting both the 19.61 level and the purple downtrend line. A lot of touches on the trend line (red circles drawn) and rejections. We are looking for a break on this trendline as a first signal of reversal. Below 19.61 we have 19.03 and 18.55 but we don't think it goes there.
Similar fractal from when it climbed from 18.55 to 26, we were following a descending triangle that actually broke to the bottom before reversing hard. The market does what the market wants to do.
Mexican standoff USD/MXN has been in a range since early December but I think its getting ready to breakout to the downside. As long as price stays below 20.0000, I could see a move all the way down to 18.5000 near the pre covid lows. I think the FED has been clear about its policy and any reflation should positive for the peso. The move in crude oil should also be a tailwind.
LONG POSITION USDMXN UPTDAYSix days ago I published a idea about a long position in USDMXN, and now the price is in our entry, it is possible a new entry in 15 min (entry after entry).
USD/MXN & USD/ZAR - Short Sell Trend Analysis In this video, we look at the U.S Dollar's current strength against the Mexican peso and South African Rand being caused by rising U.S Government 10 Year Bond Yields.
The trends remain firmly in play for more dollar weakness, and potentially additional selling opportunities for both currency pairs.
There is a possibility of the beginning an uptrend in USDMXNMidterm forecast:
While the price is above the support 19.5970 , beginning of uptrend is expected.
If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 37.
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There is a possibility of the beginning an uptrend in USDMXNMidterm forecast:
While the price is above the support 19.5970 , beginning of uptrend is expected.
If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 48.
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. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
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Be sure to leave a comment let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
USDMXN potential bottomUSDMXN has been in a deep move down and now has a what might become a potential bottom. Breaking the trendline (points where it tested are circled in red) would be a good signal...looks like the trendline with the fib line (orange horizontal line) might be the intersect, around 20.25.
By breaking, we would like to see a daily break and ideally a weekly break above.
USDMXN, USD remain weaker against Mexican PesoAccording to 28th USA opening session, USD is encountered as bearish and in upcoming trading sessions we expect that USD will remain weaker against Mexican Peso.
Meanwhile if we see the the graph technically, the price is rejected from a resistance which shows the negative pressure valid.
If you like this idea like and do comment if you have any query.
USDMXN Long Opportunity...Area of Support!!!From our chart, we can currently see that price level for USDMXN is at the 161.8% fib level. We can see that this movement act as a retest to the trend support level (dotted line) with a potential to see price moving to the upside. Price level is also consolidating near the support @19.8000 price level. I am expecting strong support pressure here and will see it moving towards the trend resistance level (also 100% fib level). Further movement will be confirmed after we see a rejection or a breakout. As of now, I will trade the BULLISH movement to the trend resistance.
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ridethepig | BRL for the Yearly Close📌 BRL for the Yearly Close
This diagram illustrates the LT map for those in BRL and tracking Brazil for good opportunities into 2021. According to my INR maps, again a very similar cycle count which is decisive for profit taking:
The BRL now has the attacking position at the highs after completing a multi decade 5 wave cycle from 1.50 towards 6.00. But here is the weakness, we are already seeing profit taking as the USD enters into a structural decline, we have yet to mention the advantage Brazil has with particular focus on the agriculture side.
The correct ways to play this in equities also come from companies like $ALTA which was one of the first gold mining companies to capture the 2020 flows in Brazil. It is reaching an initial target to that in the expectations, now add BRL appreciation to the mix and you can see how we arrive at the 600% targets:
A very good luck to those looking for opps in Brazil, the currency is not afraid of the flank attack and note anyway that you can capture value on Brazilian exports into countries like USD and MXN. Just note how nearest support at 4.63x is -10% from here and the extension below at 3.9xx is -23% from current levels, both are in play for 2021.
Thanks as usual for keeping the feedback coming 👍or 👎
