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USDMXN

USD/MXN 1H Chart: Decline still in sightThe US Dollar has been depreciating gradually against the Mexican Peso for two weeks now. This movement has been bounded in a descending channel. As apparant on the chart, the US Dollar has reached the upper boundary of this pattern. In addition, the solid bullish momentum which prevailed yesterday has allayed today, thus sending the pair for a minor consolidation near the upper boundary. These two factors allow to think that a reversal is due in the nearest hour. This should be confirmed by a breakout of the 55-, 100– and 200-hour SMAs, as well the weekly PP at 18.90. Meanwhile, technical indicators demonstrate that there is still some upside potential in the market before bears are able to prevail in the market again.
by UnknownUnicorn890690
3
SHORT USDMXNSeguramente hay muchos traders técnicos largos USDMXN, a mi parecer el fundamental indica todo lo contrario y creo que esta volatilidad puede dar entradas interesantes. El acuerdo del NAFTA aunque es una negociación aún sin efectos legales hasta ser aprobada por el congreso, representa un gran avance para las relaciones de México-EUA y elimina el riesgo de un no acuerdo comercial o extinción del NAFTA. Es cierto que las negociaciones con Canadá apenas comienzan pero existe cierta presión política para Trump por las elecciones intermedias y la falta de resultados sólidos (además de los escándalos jurídicos) esto podría presionar a dar un pronto acuerdo entre México, Canadá y EUA (incluso podría ser esta misma semana) sin considerar que la administración de Trump no quiere continuar las negociaciones una vez que tome el poder Andrés Manuel pues existen diferencias en temas de energía. Tomemos en cuenta las tasas de interés, la inflación controlada en México, la solidez de la economía en EUA y en México etc.. TP 18.52
Short
by javelotom
What to look for next week? Gold, Euro, Bitcoin that's what.This is what I will be keeping my eye on next week: FX:EURUSD,FX:GBPUSD,FX:USDCNH,FX:USDMXN,FX:USDTRY,FX:EURJPY,FX:EURCHF,FX:EURCAD,FX:GBPJPY,FX:GBPCAD,TVC:GOLD,TVC:SILVER,COMEX:HG1!,BITFINEX:BTCUSD There might be some opportunities, and I want to perfect my trading in FX, so I will ignore stocks unless I have time, my priority is really making my FX trading perfect the rest is secondary. No rush to make profit, I just want to perfect my system at the moment. EURUSD It started going down with force, but I think I see divergence, and support is not that far, what is going to happen? I will keep an eye on it, maybe open a small trade. GBPUSD All this RSI divergence... Yeah it is still pointing down, but the donwtrend slowed down big time , could get a reversal. I probably go long based on several factors. We will see when we get there. Depends on idk news several indicators fibo etc. USDCNH Keeps getting divergence on the daily, what is it with all these divergences? Moves are weaker because big players are on vacation so there is divergence everywhere? Well anyway, it is aiming for ath overbought on the weekly, if it keeps going up with more and more divergence I will bet on the Yuan, pretty good odds I believe. My main favorite strategy is going with trends, really, but here we keep seing this stuff so I just have to go for the counter trend trades... USDMXN Just join the downtrend if possible. I have not seen a trend to join in such a long time, I do not even know how they look like, can't tell for sure if that one is good :o Seriously. USDTRY Well there is hope for the Lira bagholders. They were featured on bagholderquotes (twitter) a while ago, there are quite a few Lira bagholders :) If pepperstone would just verify me after 2 weeks, I could trade it, otherwise spread is too high. Reversal candle on the daily at the top. I could be wrong, but I have a gut feeling this could go very wrong either way... EURJPY Euro getting weaker as we saw at the start of this idea. Against the Yen it is even worse apparently. Going to look to short it on a retrace, either a weak retrace if all my conditions are met, or can be a strong retrace (got to watch usdjpy too...) EURCHF Looks like it is going to bounce. 1.154 has to be a good place to short it I reckon. EURCAD Took a loss by shorting this one too soon last week. Now I see %B divergence on the daily, I am better staying away from this one. GBPJPY Like GBPUSD but magnified. GBPCAD Is %B divergence and an RSI so low enough reasons to go long here? I seriously do not know. Must rememebr to keep an eye on this. GOLD Gold is SOOOO primed for reversal. I want to go long when it drops, but I don't even know if I get that opportunity. Silver I do not know. Waiting on the sidelines. Copper That bottoming thing I posted about 2 weeks ago, it might be over, and the downtrend could continue, but nothing is certain at the moment. Bitcoin Last but not least. I posted about this in my last BTC ideas. It's just the same stuff that repeats itself every 2 weeks. A drop with divergence (long or short it is the same just look at the chart upside down), followed by a second drop, the goes up. Supports / resistances always hold. Rince and repeat. I would call going long here very high probability. Since you know, it just keeps doing the same stuff and this worked the last idk maybe 50 times? In a row.
by MrRenev