EURMXN trade ideas
EUR/MXN - Trade idea - Opportunity! EUR/MXN - Great opportunity.
I took the short from yesterday, as the pattern looked like bear flag as well as descending channel and various other aspects.
For now technical aspects: Below the support of 25.78 the bears could have further control and head towards the next support areas of 25.68 which matches out retracement of Fibonacci 161.8 area.
Above and going out of the channel we will have the bulls getting into control, the resistance areas - 25.89 above that we will have clear direction of bulls next resistance after we will be heading to Fibonacci retracement areas, 0.618 areas.
Do keep in mind, wait for clear break of the key levels and any patterns that may occur!
Remember: Just a trade idea, not a recommendation.
Going down? Is this what you expect on EURMXN?As we can see, there is a clear drop on EURMXN since June 29th. The price drops from 26.149 to 25.036. So how does this drop influence the future trend?
The most direct way is to build a Fibonacci retracement and wait for the retracement to meet these levels.
Here, the high trend line already meets the 0.786 fib level, which is a high retracement. As can be seen, the price forms a rising wedge pattern, and the upper trend line is just the 0.786 level fib.
So this 0.786 retracement line is very important here.
It gives pressure to the price and marks the power of the price. I would say, that’s it, the price may not break out this line here.
So, as I mark, let’s wait for a downward trend now.
EURMXN - BREAK OUT!It's not a pair that I would usually trade, but it's an opportunity!
I like this pair a lot, been keeping an eye on it a lot. Now, it could break either way - Above high ends of 25 areas we could get a break out and could take the pull back trade up to the next resistance. However, if it breaks to the lower ends, below that key trend-line up and if you were to put 200 EMA as well is there as well then bears are back in control and take the next support as your profit area.
Great clean chart!
Remember: it's just trade idea, not a recommendation
EURMXN BUY- 4H & daily trendline met
- 618 fib rejected
- 618 fib marries support line & trendline
- price below moving average
- waiting for confirmation of bullish power to enter trade
EURMXN Possible Head and Shoulder in H4 $ M30I see a possible Head and shoulder Formation in both H4 and m30. which further Add to what i wish to see to take a low Risk Trade.
I anticipate a bearish Month in all..
As we have gone into technically what is over bought During the Aussie Session..
London Session and NY Should Provide enough Liquidity needed to push price Down.
EURMXN SHORT TRADE SETUPEURMXN has met Resistance around key area and Bears have one more time stepped into the market.. i expect a bearish month all together.
You will learn the best place where we can trade this instrument at low risk.
Write in the comments all your questions and instruments analysis of which you want to see.
EURMXN losing upward momentum, looks likely to turn downRough sketch of expectations. I'd be looking for a break in market structure + retrace or a sweep + reclaim of a range high to enter. Thesis invalidated if red tangent line is broken.
Viva la Mexico! Short positionTwo key support levels are being flirted with. If the first breaks then the second will most likely be approached in the coming days. For now I'm putting my TP at 24.9578 and SL at 25.4017
TheHonestTrader
Perfect short EUR/MXNDownwards trendline, rejected at the 50 day moving average on the daily chart, the price is also at the 0.382 FB retracement point from the price high set 6 april to the price low 3 june. Looking at the broader picture it can consolidate around the 0.5 fib retracement point set in february to the april high before seeing more downside. EU countries are highly dependent on tourism while the MXN is very much tied to oil prices, seeing as oil is on the rise and tourism isn't going to boom anytime soon, I will be bullish on the Mexican peso.
EURMXN 1HRBEARISH BAT
price need to follow Green Trend line & hit target
If price Breaks Red Trend line is where EXIT before SL hits
POTENTIAL SELL
EURMXN 3HRBULLISH Deep Crab@1.902XA
If price Breaks Red Trend line is where EXIT before SL hits
price need to follow Green Trend line & hit target
POTENTIAL BUY
EURMEXA lot of the euros look like they are making flags to push up again (eurcad, euraud, eurnzd). EURMEX coming off the 1.236 extension of a potential WXY on weekly. EUR/CHF also.
