USDMXN
USDMXN ShortJust playing out the possible consolidation on the US dollar soon (with Fed rate hike already priced in and divergence seen on RSI in the weekly DXY chart, not to mentioned the possible dovishness of the Fed by 2019). Also just riding the recent ranging movement of this pair.
Setting sell stop order with TP @20-20.1 (-38.2 to -61.8 fib levels) and SL @20.58 (between 61.8-100 fib levels).
www.ft.com
DXY:
Daily:
Weekly:
Confidence: C (high probability of getting whipsawed; also need to close this position before PMI news tomorrow and NFP news on Friday)
USDMXN: Topped as per the weekly timeframe...I think the Peso will regain strength over time from this juncture. The weekly Time@Mode trend signal we had here expires next week but price already seems to be trending down in the daily timeframe, and broke a previous weekly low, so I think we're safe to assume the decline started already. The G20 talks and oil related news might be behind the strength in commodities, EM currencies and weakness in the dollar.
Either way, I'd like to have some exposure to oil and gold, at the very least, but also look into agricultural futures and related stocks, since the trade truce signaled strength might be seen in these markets. Another interesting market to monitor is tech, in particular $QCOM in the event of a merger...I'll be watching $SPY, since I fear it is a bit stretched, and might go back down, if it's still range bound and not trending.
Cheers,
Ivan Labrie.
USDMXN - One more push higher before sell off !We might be in wave 4 of an impulse, playing out as a triangle, meaning we will have only one more push up to around 21 before selling hard.
This move to the upside is wave C of a zig zag wave (B) of an impulsive wave ((4)).
How to trade this ?
Wait for wave 5 to develop and terminate, then wait for a pullback in an impulsive manner for a lower degree wave 1 after which you can sell the pullback of that move, i.e wave 2 of that impulse lower.
USD/MXN has a bullish divergence at 4h chartI see bullish divergence on macd historgram at 4hr chart for USD/MXN pair .
Profit targets:
20,25
20,32(Strong resistance)
20,39
20,50
Stop loss:
20,06
Have a nice day
USD/MXN 1H Chart: Short-term channel in sightThe previous forecast worked, and the USD/MXN currency pair has breached the medium-term ascending channel.
As apparent on the chart, the US Dollar is continuing to appreciate against the Mexican Peso. This movement has been bounded in the short-term ascending channel. Currently, the pair is testing its lower boundary at 20.05. if given channel holds, it is likely that a reversal north occurs within following sessions. The general direction is expected to remain north. Potential upside target is the psychological level at 21.00.
Otherwise, a breakout from the channel occurs in the nearest future. Important level to look out for is the Fibonacci 50.00% retracement at 19.75.
MASSIVE CUP AND HANDLE IN USD/MXNMy ideal opening in my previuos chart didn´t hit. An ideal opening would´ve been 19.40-19.80 ish. But as you can see, the daily chart shows a massive cup and handle so I believe an opening right now would be very profitable specially when the new Mexican president is taking over tomorrow Saturday, December 1st. Being a very controversial person, it is almost a certainty that the MXN is going to take a massive hit maybe all the way up to 22. On the other hand, the MACD looks weak, thats why your stop loss should be at the 0.5 support. Stay safe.
USDMXN IMPORTANT DAILY LEVEL (BREAK OR BOUNCE??)THE MXN IS BEING UNDER PRESSURE DUE TO THE STRENGTHENING OF THE USD AND THE UNCERTAINTY ABOUT THE POLICIES OF THE NEW PRESIDENT AMLO. CLEARLY WE CAN SEE THE DAILY STRUCTURE OF THIS PAIR WHICH IS TESTING THE UPPER TRENDLINE AND GIVING US A POSSIBLE SCENARIO FOR GOING SHORT AROUND THE RESISTANCE ZONE BETWEEN 20.86 & 20.96 WITH STOP LOSE UP TO 21. LETS SEE HOW IT DEVELOPS!!!
USDMXN SHORTS FROM KEY ZONEUSDMXN has been on our list for a while now looking for the high probability short trade from the key resistance of 20.9000.
With the recent uptrend forming here we can see the Fibonacci extension 127.2 sits just under the key resistance zone using the current impulse leg.
This area will likely see sellers re-enter the market as it shows the market could be over-extended at this level.
USD/MXN short opportunityHi fellows,
There is an excellent R:R short opportunity on this trade. Price may retest prior week's high so be cautious when opening a position.
USDMXN BUY (US DOLLAR – MEXICAN PESO)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
USDMXN looking for downside.All eyes are on this pair for potential short. Please use correct MM and strategy.
USD/MNX Short IdeaBank increase of rates would cause the peso to strengthen against the dollar. Price is also flirting around a key level for this pair. Possible head and shoulders. For educational and demonstration purposes only.
USDMXN H1 RISE AND DROPWhen taking signals:
- Feel Free to take profits when you happy.
- Trade With Care.
- Trade With Only Capital You Can Afford To Loose.
- These Are Suggestions Only.
- These Are For Educational Purposes Only.
- Please Factor Spread Into Account For Stop Loss.
We are not held responsible or liable if there is a loss of capital.
Divergence in USDMXN may be the start of a downtrendUSDMXN is showing weakness and also calling for the end of the move up. besides that channel is also forming a wedge where I expect a move down to 19-18.5 and then a re-test of the lower support.
As I always say, let's check for confirmation before entering a short, I may enter a position next Monday.
USDMXN BAT PATTERN EN FORMACIÓN2 POSIBILIDADES,(1) COMPLETA EL PATRÓN ÁRMONICO, CHOCA CON LA ZONA DE RESISTENCIA VISTA EN DAILY TOMÁNDOLA COMO TECHO Y EL PRECIO COMIENZA A CAER, Ó (2) ROMPE LA ZONA DE RESISTENCIA, INVALIDA EL PATRÓN Y POSTERIORMENTE RETESTEA LA ZONA DE RESISTENCIA COMO UN PISO PARA DESPÚES CONTINUAR SUBIENDO.
Targets to watch in USD/MXN This a trend analysis on USD/MXN.
Our first indicator on an uptrend comes from the golden cross on October 26, 50 MA crossed the 100 MA. Last two times it happened we saw important increases which should mean midterm profit.
Both the stochastic and RSI are pointing up, but buyers are getting tired, so my entry point should be between 19.43-19.83 with a definitive support at the 0.382 level, do not buy if it goes below this level as this may indicate a trend reversal.
The profit targets are also important as I believe we might have a definitive rejection at the 1 line so plan your locking of profits accordingly.
Also and pretty important, the new Mexican president is being sweared in on December 1st, 2018. Being that this individual is a very controversial person, we might see an important USD take over the MXN which might trigger higher levels of profit above the 20.80 price. Be watchful.
Please, please, please comminity, can I have some feedback on this analysis? I believe that there will be a hell ton of money to make if you open a position and hold it till a bit after December 1st.
Mexican peso back to green.The Mexican peso seems to be recovering and although it is important to see how it reacts to the supports, everything indicates that it will remain positive until the end of December.
It is important that I keep an eye on the news and reactions to the new president, but in general the analysis gives enough information to be reliable.
Follow you own plan.
Best wishes all.
