USDMXN
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.
USDMXN FLAG PATTERNLooks like rally started. I think the direction will be up. Don't forget to do your risk analysis.
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..
50x short on USDMXN50x short on $USDMXN as indicators show its overbought and volume is lacking. Also divergence on price/RSI.
USD/MXN is ready to rallyUSD/MXN is ready to rally after it breaks this strong resistence behind him :)
USD/MXN 1H Chart: Resistance level in sightThe US Dollar has been appreciating against the Mexican Peso after the currency pair reversed from the lower boundary of a medium-term ascending channel near 18.65.
Currently, the rate is trading near the support level formed by the monthly PP at 19.01. If given support level holds, it is expected that the pair will aim for the upper channel line located circa 19.60. Important resistance level to look out for is a combination of the weekly R2 and the Fibonacci 38.20% retracement at 19.20.
If given resistance level holds, the pair might make a reverse and go downside to re-test the lower channel line located circa 18.70.
Sell limit USDMXN Sell limit 19.06 , 19.075 ( Stop hunt zone )
or sell now with larger Stoploss
TP 18.92 or let see their pattern again
it should drop and back to its trend again.
Mexican Peso October resistance. Important resistance at the beginning of October. The review shows that we could have two likely targets, both quite aggressive in my opinion.
It is important to observe how it responds to the critical area and to remain attentive to its development.
Follow your own plan
Best wishes to all...
HIGH AND LOW SEQUENCE CHANGEDPrice break in a very fast impulse the last low so i expect a not too long retracement and then continuation to the downside until price says otherwise
