Get started

USDMXN

USD MXN BUY (US DOLLAR - MEXICAN PESO)Hi there. Price is forming a reversal pattern to change its direction. These are the fundamental reasons for a possible USD/MXN bullish scenario: Sentiment shifts: Bullish scenario: A breakdown in US stimulus talks and a possible towards a government shutdown; FDA rejecting or postponing the approval of the Pfizer vaccine; a breakdown in Brexit talks with no deal by EU summit. In this scenario we would expect to see downside in equities across the board, with US equities expected to fall more if we see US stimulus talks break down and more downside for EU equities if we see Brexit talks collapse and upside in the dollar across the board. Strong equity sell offs are usually accompanied with some support for the US dollar as the world’s reserve currency and with its safe haven status as well as Japanese yen and Swiss franc .
by thunderpips
1
USDMXN - Peso technical analysis! Peso! It's an EM currency that I enjoy trading the most, it's the behaviour the MXN moves. It's important to seek out how currencies behaviors are. Now let's dive into the technicals: Pattern: Wedge Support: 19.79294 - 19.71330 Resistance: 19.93628 - 20.07432 Long: Above 1st resistance area and close above 20.07400 areas Target areas: 20.4000 - 20.37660 (200 EMA Area) Short: Below support areas 19.71330 and confirmed close Target: 19.54620 - 19.30700 Key tip: It's important for confirmed closes, as you could get a fake a break out as well. Remember: Just a trade idea, not a recommendation. All the best, Trade Journal
by Trade_Journal
2
USDMX on bearish run 🦐USDMXN after the break below the weekly support retest it few times. The market created an ascending h&s pattern and recently broke below a minor support. After the retest we can expect a continuation to the lower levels. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
6
Model Buy Signal: 20.1950 #forexIngenuity Trading Model used in- Stock, Forex, Futures, and Crypto markets. For Stops, Targets and overall Portfolio/Trade Management join us. The model is a Geometric Markov Model : In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal wave structure you can find on any chart you look at across any market and across all time dimensions. Our model focuses on the current wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement. For questions or more information feel free to contact me in the comment section or via private chat
Long
by IngenuityTrading
🌟👍Technical outlook: USDMXN bearish scenario:🌟👍Technical outlook: USDMXN bearish scenario: In this pair we have technical figure Triangle. The Triangle has broken through the support line at 19/11/2020. Forming a bearish formation on a 4 hours chart. If price holds below this level we will have possible bearish price movement with forecast for the next day with target 19.82664. Our stop loss order should be placed at 20.4340 if we decide to enter this position. 💁‍♀️🦸‍♂️Fundamentals: - At BBVA, economists think the Bank of Mexico will keep making rate cut in 25bp steps from here until the policy rate reaches 3.0%, in May 2021. “We continue to expect that Banxico will slash rates further than currently expected, as Banxico keeps them close to 0% in real terms.” - This suggests conservatism for Banxico going forward in order to preserve credibility and maintain yield-support for MXN
by legacyFXofficial
USDMXN keeps sliding...to where?USDMXN has been sliding lower knocking fib levels one by one. This week the last one was taken, leaving us with two supports before it retest the lows before we got a strong implusive move up. Those two supports are 19.76 and 19.61 (red lines). Be on the look out for an impulsive move up before going long as this pair has punished all long for a good while. Fundamentals other than a weak USD (DX) and higher rates (carry trade) are few, so it can turn on a dime IMO.
by laventa