USDMXNThis exotic currency pair has been in a bullish trend over the past few weeks, due mostly to USD strength. The news of the origin of a potentially dangerous coronavirus variant emerging in South Africa at the end of last week caused many countries to shut their doors on South African and other African travel, and strongly hit the price of Crude Oil on fears of lesser demand, of which Mexico is a major exporter, causing the Mexican peso to nosedive and send this pair sharply higher to a new 1-year high price on strongly above-average volatility.
Unless it is quickly discovered that the omicron variant should not be as problematic as feared, it is hard to see how Crude Oil and henceforth the Mexican peso will not make a further sharp fall over the course of this week.
The Japanese yen is stronger than the USD so short MXN/JPY will probably be a better trade if your Forex broker offers access to it.
Usdmxnidea
💡 USD/MXN To the moon? Hi traders. Given USD strength the past couple days This USD pair looks to be the most interesting if it can play out this could be an explosive move higher. On the other hand if it breaks back below it would also be a nice short trade. Keep in mind the risk off sentiment in the markets as it will play a key role.
USDMXN BULL prive movement predictionUSDMXN BULL prive movement prediction
usdsgd mine own perspective so what's your consideration on the price movement please comment in the below section ?
I believe that. So what is your expectations in comment below.
So guys Let's look at it 😍😍😍🥰😍😍😍😍 with #hasanat_hussain_al_ahmed_hasan
Learn forex then thought to does earn
We meet againLast week I attempted to short the usd/mxn and it didn't work out to say the least. This week I am back for more. The trend is still bearish and we are still below the midpoint of the range (rectangle). Selling here or higher with a stop above todays high at 20.4000. Hopefully the spike up marked the top and there will be continuation to the downside over the coming days and weeks. Ideally I would love to see the pair revisit the lows near 19.5000
Is USDMXN heading to $19.50 ??? After observing price is finding resistance at $20.00, and Stochastic indicator is at a level of 92 (pverbought), price might move downward to a lower low, probably $19.50
I am personally entering a short position
STOP LOSS $20.02
TARGET 1: $19.70
TARGET 2: $19.60
TARGET 3: $19.50
Not financial advice, do your own research...
Mexican standoff USD/MXN has been in a range since early December but I think its getting ready to breakout to the downside. As long as price stays below 20.0000, I could see a move all the way down to 18.5000 near the pre covid lows. I think the FED has been clear about its policy and any reflation should positive for the peso. The move in crude oil should also be a tailwind.
USDMXN Long Opportunity...Area of Support!!!From our chart, we can currently see that price level for USDMXN is at the 161.8% fib level. We can see that this movement act as a retest to the trend support level (dotted line) with a potential to see price moving to the upside. Price level is also consolidating near the support @19.8000 price level. I am expecting strong support pressure here and will see it moving towards the trend resistance level (also 100% fib level). Further movement will be confirmed after we see a rejection or a breakout. As of now, I will trade the BULLISH movement to the trend resistance.
Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!