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USDMXN

ridethepig | USDMXN Market Commentary 2020.07.19Ok let's get started with the next round of important chart packs and fundamental updates 📍 On the fundamental side in USDMXN - as strange as it sounds all eyes are on the other side of the Atlantic. Once again politics in Europe is getting in the way, with discussions on the recovery fund coming to a close this weekend and looking like we are going to see this delayed till September with one more round of sabre rattling from the frugal four. With Covid still in play, any risks to more free money will add to a continuation of worries and anxiety. This can cap the highs in EURUSD for those tracking the flows: We cleared the first macro target on time; although any push higher will be difficult without the official ✅ from the EC. Without that, risk is broadly exposed and the only way to defend against this in USDMXN is by sacrificing the MXN. Buyers have held the 61.8% after a hard battle; see the end of the previous chapter, from last year. 📌 Manoeuvring in these waters is difficult even for the most experienced speculators. This position from the Technical game. The cramped sellers is glaring weakness here. And buyers should be considered as ready also. But buyer's own weakness on the soft horizontal resistance line should also be considered as a pivot also. A certain amount of restraint can be expected, although the space is there now to operate the impulsive wave. There are going to be plenty of chances for us to open up the H4 charts for those wanting to position for the micro flows, as well as those more passive traders waiting to take advantage of the momentum. As usual thanks all for keeping the feedback coming 👍 or 👎
Long
by ridethepig
MEXICAN PESO STRUCTURE LONG| USDMXN is in the downtrend and is currently trading in a small triangle. TRADING PLAN: Long now from the triangle support. Great risk reward and 50% probability. I trade longs ONLY on such pairs due to the expensive interest rate spread, which in the case of being long peso, is working in your favor. 3 targets correspond with the local levels, SL below the support. Thank you for reading, support me with the like and subscribe if you like my work. Have a nice day!
Long
by ProSignalsFx
1
Death Crossing - AGAINYesterday the dollar fell 0.66% normally when this happens the price increases $0.20 if the price does not stabilize it will be difficult to trade in bull mode. With the publication of a possible vaccine and massive publicity in networks that Mexico will acquire Russian medicine for treatments, the economy and prices recovered a little. The technical analysis shows us a cross of death. More breakage of support. Which again we can enter the prices $21.90 - $21.70 are areas of purchase. The salvation of amlo so that the fall of the gdp does not continue to increase. and strengthen the weight. The salvation of the weight is that donal trump gets elected again. The worst case scenario would be that Joe Biden wins, his ideology would be a headache for Mexico. He would also make the Mexican state pay for supporting Trump at election time. Spanish: El día de ayer el dolar cayo un 0.66% normalmente cuando esto sucede el precio aumenta $0.20 si el precio no se estabiliza sera difícil operar en modo toro. Ante la publicación de una posible vacuna y publicidad masiva en redes que mexico va adquirir medicamento ruso para los tratamientos de la actual enfermedad que todo el mundo lidera. La economía y las cotizaciones se recuperaron un poco. Trump es la única salvación para restar el aumento del dolar ante el peso mexicano. El peor escenario seria que Joe Biden gane, seria un dolor de cabeza para mexico su ideología. De igual manera haría pagar al estado mexicano, por apoyar a trump en tiempos de elecciones. El análisis técnico nos muestra una cruz de muerte. Más rompimiento de soporte, lo cual nuevamente podemos entrar en los precios $21.90 - $21.70 son zonas de compra. Los tratados de libre-comercio son la salvación de la economia mexicana de manera exterior, de igual manera beneficia para que la caida del pib no siga en picada. Todo esto en resumen para fortalecer el peso o disminuir los riesgos económicos.
Short
by bitcoinalexis
SELLGood morning is a quick signal to sell, close the deal on the 16th, time (GMT-6), to get our profit. Entry Price: $22.70 - $22.60 Closing Price: (Close trading on July 16, 2020) PD: The entry day was yesterday as you can see there is a big red candle, but I consider that it is not too late to have some benefit. It will raise the sail a bit but it will make its retreat. Spanish: Buen día es una señal rapida de venta, cerrar operación el día 16, horario (GMT-6), para obtener nuestro beneficio. Precio de entrada: $22.70 - $22.60 Precio Cierre: (Cerrar operación el 16 de julio del 2020) Posdata: El dia de entrada era el dia de ayer como pueden ver hay una gran vela roja, más considero que todavía no es tarde para tener un poco de beneficio. Subirá un poco la vela pero hará su retroceso.
Short
by bitcoinalexis
testing blue line, inclined for 22.20s and lowerlately i have been posting this chart saying bounces back and forth (been working great so far) but now we have a test on blue bar (22.40s) and additional good news on markets + earnings starting today. Potential on going to 21.8s on the week if earnings are good. Good news= more apetite for risk = weaker dolar/ stronger mxn usd gets weaker due to investors being more keen to risk and taking money out of the US into emerging economies
Short
by jasperpf
USDMXN | WEEKLY PERSPECTIVE (FOLLOW UP PLAN)It is worthy to state that the Peso continues to ride high on the back of a weaker US dollar. Following my last publication (see link below) on this pair; we have found a complete retracement of AB leg which culminates at 61.8 with a strong tendency to make an extension within 127.2 and 141.4. Tendency: Downtrend ( Bearish ) Structure: Harmonic (AB = CD) Observation: i. A complete 61.8 retracement of Impulse AB leads the way to a potential Harmonic move as we eye the AB = CD pattern in the following week(s). ii. A further Breakdown of my Key level at this juncture might confirm my Bearish view on this pair. iii. AB = CD pattern as price rallies from a 618 retracement; a. Impulse A-to-B is expected to be in harmony with the potential B-to-C leg. b. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg. c. The potential C-to-D leg is expected to fall within 127.2 - 1.414% Fib. ext. of the A-to-B move. Trading plan: SELL confirmation with a minimum potential profit of 7,000 pips. Risk/Reward: 1:2 Potential Duration: 2 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
USDMXN Short Opportunity!!! Possible H&S Pattern Forming...As of now, we can see 2 clear consolidation area from USDMXN. As for the second consolidation which is also the consolidation phase we are in, we can see price level retested the previously broken consolidation area. Not only that, we can also see a nice head and shoulder pattern potentially forming. This lower consolidation did signal to us that bearish movement is not stopping at the moment and what I will be seeing a BEARISH movement till 21.380 support level which is also near 61.8 fibonacci level. This area between the support level and 61.8 fib level will form a nice BULLISH strength. If we are able to see a breakthrough of this strong support area, there will be a potential strong BEARISH continuation occurring. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!!
Long
by YGForex