MXNUSD trade ideas
BIG BULL STOP HUNT LOOMINGwell well well, the pesso is one to be worked with care, so it makes since to trap and pull when news hit
Strong downtrendUSDMXN has been under pressure for a few days now and I am not expecting it to stop soon. The US Dollar has been going down because of expected rates cuts to come this year and the mexican peso still benefits from a tighter monetary policy. Now that the fundamentals are in the favor of a continuation to the downside, we can observe on the daily timeframe the formation of a triangle that has been broken to the downside showing that sellers are in control and that they will probably continue to put more volume pushing price down in the future.
USDMXN Bearish BreakoutUSDMXN has had difficulties creating higher structure while slowy going down on every failed attempt to break higher. Price has recently broken below a key support which shows that sellers are in control especially knowing the macro economics circumstances. My target is at 16.82000 .
Rectangle BottomSell opportunity
Rectangle Bottom Pattern
Look to short the breakout to the next level
The kick of shorts till the buysOn that last push I see two points of interest to kick my shorts and I'll force one breaking under 16.98
14.50 as a max discount I see two possible liquidity points to go through, overlapping a fib using an OTE I would like to see 14.50 before we can make a good push-up again.
USDMXNThis Monthly FORECAST
Opportunity for USDMXN. This setup trading idea is for swing. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
USDMXN | Market outlookThe latest data from the U.S. Commodity Futures Trading Commission and LSEG indicates a decrease in speculators' net short positions on the U.S. dollar, coinciding with the greenback's rebound amid reduced expectations of Federal Reserve easing in March. The value of net short dollar positions fell to $9.799 billion, down from $12.7 billion the previous week, marking the largest decline since August. Speculative sentiment toward the dollar shifted notably, with a significant decrease in net euro longs. Institutional investors also decreased their significant shorts on the dollar, while leveraged accounts or hedge funds reduced net dollar longs. The dollar is set for a second consecutive weekly gain of 0.8%, supported by solid U.S. economic data and statements from Fed officials indicating a tempered outlook for rate cuts in the near term. Market expectations of a rate cut at the March meeting have decreased to less than 50%, compared to 80% the previous week. For 2024, futures traders anticipate five rate cuts of 25 basis points each, down from expectations of six cuts last week. Overall, the data reflects a more stable sentiment toward the U.S. dollar, with investors adjusting their positions in response to evolving economic and monetary policy expectations.
keep pushing down for a long time, I have wanted to see a cheaper peso. do not trust this much since my conviction is more than my bais.
USDMXN Consolidation before strong decline.The USDMXN pair gave us the most optimal sell signal on our last analysis (October 09 2023) and after hitting our 17.0500 target, is consolidating:
This consolidation is on 1D RSI terms, similar to September 28 - October 28 2022, when the RSI Triangle broke downwards and with that, the price was detached from the 1D MA50 (blue trend-line) and aggressively declined to marginally over the -0.236 Fibonacci extension. As a result, we are taking now another sell with our Target at 16.200 (Fibonacci -0.236).
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USDMXNThis Week FORECAST
Opportunity for USDMXN. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
USDMXN Buy BSL taken, unmitigated bullish order block, and inducements which has formed top side liquidity.
USDMXN = Dolla will appreciate vs Peso, Specially because:Dollar vs Peso just hit a upward trend.. very likely that it continues up in the short term.
Likely scenario for a sideways direction and then maybe a reversal to flat 17.
Long in USDMXNI have initiated a long position in the USDMXN forex market as the price has reached a significant demand zone. This trade decision is backed by a comprehensive analysis of market conditions, where I have identified key technical indicators and chart patterns that suggest a high probability of an upward movement.
The USDMXN pair has shown a clear bounce off the demand zone, indicating a strong potential for a bullish trend reversal. Additionally, the convergence of multiple factors, such as a bullish divergence in the oscillators, a break of a key resistance level, and a bullish candlestick formation, further reinforces the trade setup.
With a well-defined risk management strategy in place, I will closely monitor the trade, adjusting stop-loss and take-profit levels as necessary. By sticking to a disciplined approach and staying informed about market news and economic events, I am confident in my ability to successfully navigate this long position in the USDMXN forex market and capitalize on potential upward price movement.
Shot in USDMXNI have entered a short position in the USDMXN forex market as the price has touched a significant supply zone. This trade decision is based on a meticulous analysis of market conditions, where I have identified key indicators and patterns that indicate a potential downward movement. By strategically executing this trade, I aim to capitalize on this favorable opportunity, leveraging my expertise in trading to navigate the market with precision and achieve optimal results.
The USDMXN pair has shown a clear rejection at the supply zone, indicating a potential reversal in the price action. Furthermore, the confluence of technical factors, such as Fibonacci retracement levels, trendline resistance, and bearish candlestick patterns, adds further weight to the trade setup.
With a comprehensive risk management plan in place, I will closely monitor the trade, adjusting stop-loss and take-profit levels as necessary to maximize potential gains while minimizing potential losses. By adhering to a disciplined trading strategy and staying abreast of market developments, I am confident in my ability to successfully navigate this short position in the USDMXN forex market.
USD/MXNOn daily, it has made a big Doji which indicates for Shooting Star formation.
It also has rejected 17.4000 Resistance.
On Hourly, It formed Double Top and moving down and it's currently at this moment is correcting to continue Bearish move.
USDMXNThis Week FORECAST
Opportunity for USDMXN. This setup trading idea is for intraday. >> TAYOR
* This zone still valid.
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
USD/MXNOn Daily, All three EMA 20, 50, 200 (RGB) are Bearish. the trend is bearish too.
On lower Time Frame, the correction is at the all time high , ready to bounce back down.
USDMXN #peso #dxy #usd #mxn Due to technical and fundamental reasons I see dollar getting stronger against the peso. Adddtionally all that the central banks are doing fully supports my trade idea as the best possible option
