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Mexican Peso/US Dollar

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MXNUSD trade ideas

USDMXN is breaking the supportsUSDMXN remains bearish and it’s now in a sharp intraday decline aboutwe have been warning about in the past. We see pair now breaking the trendline support and its falling below the important 19.70 level. This may cause more more weakness as a higher degree bearish triangle can come to an end. In fact, MXN has been one of the strongest even when USD was up vs GBP, AUD and NOK. So if these are ready to gain, or at least make a pullback, then we think that USDMXN can easily come much lower. Check where USDMXN is despite DXY bull run in the last 12 months. A bearish HS pattern also signals for more weakness on USDMXN. Grega
by ew-forecast
USDMXN Long This looks to be one of those very "safe" plays on the USDMXN this pair has been a consistent money maker on the long side over the past 3years I have been trading. The ADX is in the lower ranges (Indicating that it is not trending), approaching one of 2 very strong supports and the RSI looking good. Look to enter the market at your own discretion but in my opinion, tends to move very quickly to the upside so have a buy level you are comfortable with. I only buy this pair I never sell it because the timing is always tricky on that one. Macro economic: dollar is still strong but I would also look at the VIX as an indication of when to press the go button as these two are more correlated than not.
Long
by bulls_run
2
USDMXN Confirming our long-term pattern. Strong Buy now!The USDMXN pair largely confirmed our last buy signal almost 2 months ago as after it hit its first Support level, it rebounded aggressively to its Lower Highs trend-lines, as shown on the chart below: We made this accurate projection based on the similarities with the April - June 2021 fractal. The correlation continues to hold as the price is now trading sideways near the Support level, having broken last Friday below its 1D MA50 (blue trend-line). As per the 2021 sequence, we can expect another month (roughly) of neutral/ sideways price action below the 1D MA200 (green trend-line), before the next strong rebound towards the Lower Highs trend-lines. Technically, this is another solid medium-term buy opportunity. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
3
USDMXN LONG Looking at the Weekly and 4hour timeframes, the dollar Mexican peso continues to soar gradually and we should get a retest of the most previous supply at 20.50- 20.56 zone, which is our projected target before we get any significant reaction The USD/MXN is up on Thursday amid a stronger US dollar across the board. The pair is trading at 20.07, at the highest intraday level. Wall Street is turning from neutral to bearish, favoring the greenback. On the upside, the immediate resistance is seen at 20.10. A consolidation above could point to further gains and a test of the critical area between 20.17 and 20.20. A daily close above 20.20 would be a positive technical development suggesting more gains ahead, targeting the 20.45 area. Our projected target is 20.50 given all these factors
Long
by AVA_TRADEx