Get started

Mexican Peso/US Dollar

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

MXNUSD trade ideas

Broken Trendline Keeps USDMXN In Downtrend For Wave 5Broken Trendline Keeps USDMXN In Downtrend For Wave 5 from technical point of view and by Elliott wave theory. USDMXN shorts are doing very well as we mentioned and highlighted on October 12, when we spotted a corrective recovery in wave (4). As you can see today, USDMXN turned nicely down from projected resistance and it can be headed much lower as bulls failed to break above the daily trendline resistance in October. So this was seen as a corrective and temporary bounce; wave (4), which puts wave (5) in action after broken trendline support, so weakness is ready to resume, ideally down to 16.00.
Short
by ew-forecast
4
USDMXN: Channel Up calling for pullback buy.USDMXN has converted the 1D MA200 to support and is rising steadily inside a Channel Up. The 1D technical outlook is neutral (RSI = 54.479, MACD = 0.196, ADX = 35.456) so once the current pullback towards the 1D MA50 and the bottom of the Channel Up, is completed, we will buy again and target a new +5.93% rise (TP = 18.8000). A 1D candle close under the 1D MA50, will be bearish, aiming at the S1 level (TP = 17.000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
1
The 18.5000 level is more important than you think!The USDMXN 18.5000 level has capped the rally in recent weeks. And you can see the strong descending trend line capping the market. Even the rally this week has tried to keep a "lower high" but we think this is just a byproduct of the descending trend line. A break of the 18.5000 level would target 18.8700, but 20.2100 would be more likely.  While above the 200dma we expect a break of resistance.  You should keep a close eye on the RSI (lower panel) on a breakout. If price moves higher, the RSI could be a good gauge to see if the trend will continue with a confirming move higher, or potential divergence which could signal we hit a near term top between 18.8700 to 20.2100.
Long
by ForexAnalytixPipczar
1
Oct 22th, 2023 - USDMXN to 17.77?Last week USDMXN traded between 17.85 and 18.46. Given Banxico's decision to maintain its benchmark policy rate at a record high of 11.25% at its September 2023 meeting, as widely expected, and FED's expectation to hike rates if the economy remains hot... Short term, (weekly) my bias is for dollar weakness. I am looking for dollar strength around the 105.917 DXY handle.... This move could possibly lead to MXN nearing the 17.77 handle for this week. This is not financial advice by any means, I am not a licenced financial advisor and these are just my points of view of the market. FX:USDMXN
by AngelMondragon16