USDMXN 5-3-5 Correction Hello Traders
USDMXN now in Subwave 3 of Wave 5. A more bearish trend following the downtrend channel
FX:USDMXN
USDMXN
USDMXN
Technical outlook
Bearish scenario
Since 24.03.2020 the pair is developing a bearish trend. Currently, the price is below 9 days EMA in conjunction with the pin bar that formed yesterday (15.10.2020). From technical point of view the first target for on the downside should be 20.8755 and if this level falls the long-term resistance around 20.40.
Bullish scenario
The resistance level of 21.50 should be monitored very closely as if the price start trade above this level for couple of days then the target of 21.85 should be achieved quite fast.
Fundamentals
The cyclicality is now in favor of MXN as a 10 years cycle in the USDMXN could be at its end.
Also, the elections in the USA could be the fuel behind the further drop in the USD as these kinds of events always lead to uncertainties.
Traders should keep in mind also that the environment of low interest rates in USA is by default good for the emerging markets as most if not all of their international debt is denominated in US dollars.
USDMXN on a daily channel 🦐USDMXN on the daily chart is perfectly moving inside a daily channel.
The price has just broken the daily support, if there will be a retest of it we can set a nice short order according to Plancton's strategy
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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.
USDMXN Break Invalidation LevelHello Fellow Traders
Just a quick explanation. Price already broke Invalidation Level which is Wave 1
A more bearish trend will be form until complete Wave 5
FX:USDMXN
DXY falling!!DXY falls bellow MA50, during the asiatic session. XAUUSD & XAGUSD appreciating.
Gilead can now supply remdesivir to any hospitalized patient in the U.S. and will be able to satisfy global demand by the end of October.
Next Level for DXY is 92.80
USD/MXN going Arriba!Hello traders
US dollar is getting stronger against "peso mexicano" after the 7 month decline the started April 6 2020. On September 22 2020 price broke above "7 month bearish trendline" indicating buyers are under control.
This in my Wave count
USDMXN Don't miss this rideHello Fellow Traders.
Just a quick analysis. USDMXN already broken the trendline at H4.
Wait for retest. My buying zone is based on Fibonacci Retracement 38% till 50%
Please like my post and comment below. Thanks
FX:USDMXN
USD_MXN BREAKOUT LONG|TRADING PLAN
USD_MXN BROKE OUT OF RESISTANCE.
LONG ON PULLBACK
(1) The pair is generally in the downtrend
(2) But a support formed
(3) Together with breakout, its a long
(4) A retracement of a strong downward movement on higher timeframe
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USDMXN 2 Possible MovementHello Fellow Traders
Yesterday we had seen that the price break our invalidation level and continue to lower box zone.
For price to go bullish, we need price to breakout the upper invalidation level
FX:USDMXN
USDMXN Potential Buying ZoneHello Fellow Traders
USDMXN has reached 61.8% Fibonacci Retirement for Timeframe H4. I forecast that the price will make a sideway.
For the price to confirm uptrend, it must break the Wave 2 & Wave 4 trendline.
This will signify the last Wave 5 before going short. Maybe during US Presidential Election we can see that USD weaken.
USDMXN Potential Selling Zone For Wave 5Hi Fellow Traders
Here is an update for USDMXN. My prediction is that the price is now forming Subwave 4 for Wave C before Bullish comes in.
For safe trade, please wait the price to enter the selling zone or wait the price at buying zone for buying opportunity
Note: If You found it useful to your analysis, i'll be glad to receive some donation. Thank you
Short set ups for USD/MXNWe have a short set up for the USD/MXN as the dollars safe-haven demand is reduced as equity markets rebound higher.
The Widening of interest rate differentials since the FED pegged rates near Zero, makes the U.S dollar the perfect Funding currency to purchase the Mexican Peso that an attractive investment currency.
USDMXN Completing Wave CHi Fellow Traders,
Today USDMXN show a promising move which can completing Wave C for Higher TF. For low risk entry please wait for " Buying Zone".
If price breaking Invalidation Level, it will create a new impulsive move towards downtrend
My projection is that the USD will rally strong until US Presidential Election so I'm expecting that USDMXN will be bullish completing Wave 5 in Higher TF
FX:USDMXN
USDMXN Path and direction Hello everyone
USDMXN is in a critical point watch for breakout in both direction
watch for key notes on chart for any question feel free to ask :)
