MXNUSD trade ideas
Buy LONGPrice is at key support area on weekly. Potential double bottom and long buy for weeks and months to come.
Nice dxy bull trapIn my opinion it is only a matter of time until the rug is pulled on the herd to fill void @ 91.00, I doubt this is an accumulation. Usdmxn says it all, I see trend line longs getting trapped hard. I expect mxn to tank hard along with dxy.
USDMXN Long updateUpdate to Previous USDMXN long Position. if you followed my recent prediction in regards to a bounce along trend line, you already profited. Keep an eye on price action along the support line for another entrance to a Long position.
Elliott Wave Analysis: USDMXN Is Forming A Bearish TriangleHello traders!
We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair.
As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree wave (IV) that can send the price even lower within wave (V).
Triangles are continuation patterns which consist of five waves A-B-C-D-E and seems like the final wave E can be now in progress, so watch out for a drop back to lows towards 18.x area soon.
It’s also worth to mention that three weeks back the central bank of Mexico (Banxico) hiked the benchmark interest rate by 25 basis points to 4.25%. This seems to be very bullish for MXN across the board and it may last until other banks will start increasing the rates as well. However, a lot of CB seem to be waiting on the FED first. Today, Powell will definitely talk about inflation, but recent retracement on some of the commodities, like Lumber, may give more time to the FED, so they can wait with aggressive taper- talk, possibly till September or maybe even end of the year. Under that situation dollar may face limited upside.
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
usdmxn longhi pals ⚔🧨
If you are tired of losing money in this market
Just pull the trigger with us and enjoy 🏹🏹🏹
Risk/reward 1/10 minimum
win rate 80 and up
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USDMXN LongEnter long position between 19.8-19.87. SL-19.75. Looking for a simple bounce off the support with the combination of over sold conditions based off of the RSI.
USDMXNRemains into range $19.70 - $20.30, same vision since last year
Short term sideways into range 📉 📈
Of course bullish long term 📈
USDMXN. Long I'm waiting for this pair to make a reversal near 19.80 to place an order to buy.
Right now, we can see a break of the trendline, so this could be the beginning of a new uptrend.
Sell - Potential bearish alt bat on USD/MXNI'm going to wait for beariksh candlestick confirmation on the 1.13 before I enter, let me know your thoughts
USDMXN(Long)1. Hammer at the bottom
Potential Trend reversal
Price Not being able to
break lower low
2. Long Call
New High low Formed
Entry after Bullish Engulfing Candle
breaking previous High
Stop Loss - 19.75329
USDMXN BUYanticipating BUY on USDMXN, this pair is very volatile, so careful with risk management. Happy Trading !
USDMXN Watch bottom for long Hi there,
USDMXM is setting up for bounce off.
Watch lower time frame for long and look for buy.
Good Luck
