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USDMXN

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.
by UnknownUnicorn890690
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.
Long
by hcdlpe26
1
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.
by hcdlpe26
1
HEAD AND SHOULDERS COMPLETION ON USDMXNWe have been monitoring USDMXN for a potential short opportunity as the USD looks to be failing to move higher. We have seen price move higher as of late due to the increase of interest rates in the US however we are now at a key resistance zone. Looking at price it printed a head and shoulders pattern at the key resistance potential showing further downside to come. If we see the market pullback into the neckline we could look for bearish price action to short down into the key support of 19.6000.
Short
by BlueberryMarkets
USD/MXN 1H Chart: Medium-term channel in sightThe US Dollar has been appreciating against the Mexican Peso since the middle of October when the currency pair reversed from the lower boundary of a medium-term ascending channel near 18.75. As apparent on the chart, the rate is testing the upper channel line located near 20.10. It is most likely that a breakout from given channel occurs in the nearest future. A potential upside target is the monthly R3 at 20.41. Meanwhile, technical indicators demonstrate that there is still some downside potential in the market before bulls are able to prevail in the market again.
by UnknownUnicorn890690
The 19.70 fight. Our beloved Mexican peso is going through a difficult moment, but he has a chance to fight. The uptrend has a very complicated zone ahead, and the time window begins to close. To achieve the level and close the movement around 19.70, it is necessary a violent movement that at this point looks complicated, unlikely but not impossible. From my point of view, it is very important to see how the candle of October 19 develops and how it relates to the R & S. I expected this movement at the beginning of October and it did not happen. The pair lost its level and remained in the side range, the mexican peso is a tough fighter. Follow your own plan. Best wishes all..
by normstock