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USDMXN

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
USDMXN:BUYI have been keeping an eye on this pair for a while now, last week I managed to buy small position at around 21.70 area I'm gradually adding a position to my existing one...good chance this pair might try to go down to the yellow support area (21.00 to 20.60) but for now the odds are against short and favor LONG. I have been killin' it on this pair since March and this is my third major trade for potentially big gains... I have attached all my analysis since early May... we are done with shorting this pair it's time we go LONG now!! Good Luck! comment your ideas below....
Long
by UnknownUnicorn4020772
2
US Dollar Reversal Move? Interesting Dollar Pair Charts.The US Dollar is looking quite interesting currently. It has been smacked down the past few weeks, and as we market structure traders know, nothing moves down or up forever. Nor does price move in a straight line. All markets move in three ways only: an uptrend, range and a downtrend. And the US Dollar is showing some basing here. Here is the daily chart of the FXCM Dollar Index. I just want to show you how this Dollar index actually hit a major support level on the daily chart. I must say, that on the daily chart, the Dollar has not yet retested the breakout zone around 98.30 so be wary of this. If the 4 hour head and shoulder holds, that zone would be our target. As you can see, we are not retesting the head and shoulders neckline here at 97. You can see the previous lower high has been taken out which means the downtrend on the 4 hour is over and we are beginning higher lows in an uptrend. Holding this zone will be key. What are some fundamental reasons? Well maybe it is a run to safety with the US Dollar being a safe haven. Maybe it is foreign money wanting to buy US Dollars to be able to buy US treasures or US stocks, which are currently pulling back to key support levels. Or maybe this is just a pullback in the price as traders take profits. The truth is the fundamental really does not matter much for us swing traders. We trade the markets we see, not the ones we hope or want to see. And currently, there is a reversal pattern on the 4 hour. USDMXN was actually a trade I took earlier on with the break of the head and shoulders pattern. We hit the major target zone at 23. Once again, the daily chart shows the need of a lower high in a downtrend. The way to play this pattern on the 4 hour is see how price reacts at the neckline which it has not retested yet. From here we can assess if a higher low swing is being formed. NZDUSD created a double top pattern and you can see we have pullbacked to retest the breakout. Two options for entry here: 1) you enter now with a better risk to reward ratio, but the probability of success is lower because you technically need a break below previous lows to confirm the retest. 2) You await for the break and close below 0.6390. The risk vs reward is diminished a bit but the probability of success is much greater. The same can be said about AUDUSD, exact same pattern and approach. USDCAD we have a double bottom. I have traded this short for the past weeks, and we hit my second target at 1.33. A large flip zone. The 4 hour chart created a double bottom here, and I am waiting to see how the retest here closes. Same principles apply. See how a candle is created here, or wait for the break above recent highs.
TVC:DXY
by Uncharted-FX
$USDMXN para máximos históricos?Como comenté en el link anterior, el dolar pudo haber terminado su largo triangulo desde que el 2017 y esta dando una oportunidad para acumular posiciones, Hay muchos negativos para el dolar, la cantidad de largos pesos en el COT es una olla de presión, en el momento que el $usdmxn rompa su resistencia, los operadores tendrán que cerrar sus short covering, ocasionando una súbita apreciación del dolar. Muchos negativos para usdmxn, Target del triangulo 23.75
Long
by eduardo_mbravo