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USDMXN

USDMXN Bounce-PlayTwo possible scenarios: 1. USDMXN will create the next shooting star soon after reaching 20-- this new high and possible psychological resistance, and expecting it to drop back near 19.5 (or lower, possibly at 19 instead which is the 61.8 fib) by next month, or 2. USDMXN will continue rising near 2018 high esp if DXY tries to reach 100 before bouncing down as expected Either way, this pair is pretty much overbought and due for a strong pullback, especially if we look at its weekly price action, recent bullish candles aren't as big as those back between April-June 2018 and October-November 2018. Weekly: Confidence: B (possible for this pair to reach new highs esp if market gets more risk-off overall while at the same time continue pushing DXY to climb to 100 faster-- after already pricing in the 2nd rate cut by Fed this coming September)
Short
by aiza_belle
Buy lows for long term positonsThis par will break any moment, won't resist another attack to the 20.20. That is more likely to happen 1st quarter next year Buy any low, key levels 19.10/19.25/19.40, watch for immigration cooperation, USMCA approval and carry to good entry points. Factors: Trump is going to be in the campaign, and he proved that anti-Mexican rhetoric pays. Oil prices won't support the peso. Mexico's president populist programs will affect the investment, slow growth is expected Pemex may have a rating downward. I think is too risky to think in 18s, will be more profitable to buy lows and wait to the 21 to 24
Long
by hzepedajr
USDMXN forming bullish CRAB | A good long opportunity aheadPriceline of US Dollar / Mexican Peso Forex pair is forming a bullish CRAB pattern and soon it will be entered in potential reversal zone insha Allah. Volume profile of complete pattern is showing less interest of traders here RSI is oversold But MACD is strong bearish and Stochastic is oversold but did not give any bull cross sofar, so I would suggest when the price action will be entered in PRZ area then wait for MACD to turn weak bearish or for stochastic bull cross then buy. I have used Fibonacci sequence to set the targets: Buy between: 19.47392 to 19.25942 Sell between: 19.64064 to 20.04382 Regards, Atif Akbar (moon333)
Long
by moon333
USD/MXN For Long PossibilityThis idea is for educational and demonstration purposes and does not constitute a signal. Does history repeat itself? You will see that I modeled previous price action as noted to current price action. Underlying fundamentals at play, to keep in mind are the weakening of the Mexico economy. Market structure mimics broadening wedge. Note also 9 and 50 EMAs which have crossed to the upside to indicate we are not quite over with the buy. Fib levels point to previous highs in the market. Trade at your own risk.
Long
by mrsceleste
5