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USDMXN

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
USDMXN short - Supply Demand - Rising WedgeHello Traders! Nice possible setup for USDMXN. We have here a nice Rising Wedge Pattern. Price broke out and dropped. Now Price is making a correction. I expect it to go up to the SupportResistance and Supply Zone Area. From there we will watch Price Action for a nice Entry with a great Risk Reward Ratio. That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions. Thank you and we will see next time - Darius.
Short
by DariusFxTrading
USDMXN | WEEKLY FORECASTPeso follows the step of the Yuan against the Greenback! Tendency: Downtrend ( Bearish ) Structure: Breakdown | Trendline | Support & Resistance Observation: i. Price moves below support area @ 22.66000 affirms Breakdown structure with indications that the potential for the price to start trending downward is increasing. ii. Price trailing the Bullish Trendline in a bid to correct Impulse leg finally breaks Trendline at 22.66000 confirming a change in direction. iii . The second Breakdown of 22.44000 brings a level of confirmation to our bias as price nose-dives. Trading plan: SELL confirmation with a minimum potential profit of 15,000 pips. Risk/Reward: 1:3 Potential Duration: 3 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Nirvana! Forex 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 NFTI takes 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. NFT&I does 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
2
USDMXN short signal 🦐 After a retracement till the 0.5 fib level the market turn again down creating a bearish flag. If the market will manage to break the fist structure and consequently break the flag we can set a nice short order according with our strategy. Bear in mind that friday can be a tricky day. ––––– Follow the Shrimp! 🦐 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 Plancton0618 strategy will trigger.
Short
by InkyGrip
1
USDMXN: LONGHello traders, last 3 weeks this pair has failed to go below our first strong support level at around 21.55 area and the monthly candlestick looks like it's going to close as bullish for the current month. The pair might show a little pullback for the first week of July but overall MXN is not going to recover soon so we keep on buying until major news is released supporting the recovery of MXN. I suggest you keep on taking profits along the way. As you can see in the 4h chart our trendline (yellow line) is holding fine and a triangle formation is pretty much broken. A possible consolidation might happen in/around the blue box area but if it manages to go above the blue box then possibly a new high could be formed. Patience is key and please do NOT overleverage your trades, trade responsibly. Good luck to you all.
Long
by UnknownUnicorn4020772
USDMXN: LONGHello traders, last 3 weeks this pair has failed to go below our first strong support level at around 21.55 area and the monthly candlestick looks like it's going to close as bullish for the current month. The pair might show a little pullback for the first week of July but overall MXN is not going to recover soon so we keep on buying until major news is released supporting the recovery of MXN. I suggest you keep on taking profits along the way. As you can see in the 4h chart our trendline (yellow line) is holding fine and a triangle formation is pretty much broken. A possible consolidation might happen in/around the blue box area but if it manages to go above the blue box then possibly a new high could be formed. Patience is key and please do NOT overleverage your trades, trade responsibly. Good luck to you all.
Long
by UnknownUnicorn4020772
USDMXN: LONGHello traders, last 3 weeks this pair has failed to go below our first strong support level at around 21.55 area and the monthly candlestick looks like it's going to close as bullish for the current month. The pair might show a little pullback for the first week of July but overall MXN is not going to recover soon so we keep on buying until major news is released supporting the recovery of MXN. I suggest you keep on taking profits along the way. As you can see in the 4h chart our trendline (yellow line) is holding fine and a triangle formation is pretty much broken. A possible consolidation might happen in/around the blue box area but if it manages to go above the blue box then possibly a new high could be formed. Patience is key and please do NOT overleverage your trades, trade responsibly. Good luck to you all.
Long
by UnknownUnicorn4020772