USD/MXN Elliot waves theoryThe ELLIOT WAVES theory have formed and filled the chart perfectly and now the price can continue to its uptrend right now creating new impulsive waves to the upside right now.Longby hcarbajal123
USD/MXN POTENCIAL UPTRENDAs you can see the price have formed an existing inverted head and shoulders in the 2 hour time frame for a better look in the chart.There will be more continuation of the pattern and the uptrend if the 20 EMA broke above the 100 SMA in the 2 hour time frame, the movements are confirmed too with the volume on each correction phase of the pattern and strong moves with strong movementsLongby hcarbajal122
USD/MXN on Track to Test Positive Slope in 50-Day SMAUSD/MXN approaches the 50-Day SMA (18.9615) as it slips to a fresh monthly low (19.0919), with a break/close below 18.8560 (50% Fibonacci extension) bringing the 18.5090 (23.6% Fibonacci retracement) to 18.6330 (50% Fibonacci retracement) zone on the radar. Next area of interest comes in around the August low (18.4291) but USD/MXN may track the positive slope in the moving average should it continue to hold above the indicator. Need a move above the 19.5620 (78.6% Fibonacci extension) to 19.6280 (23.6% Fibonacci extension) region to bring the 19.8990 (38.2% Fibonacci retracement) to 20.0900 (100% Fibonacci extension) zone back on the radar, with a breach above the monthly high (20.1496) opening up the August high (20.2271). --- Written by David Song, Strategist at FOREX.comby FOREXcom5
USDMXN testing the 61.8Intraday Update: The USDMXN is holding around the 61.8% retracement near the 19.19 level, which could allow for a bounce. A break of the 19.14 level would target the 19.00 level or channel support. Longby ForexAnalytixPipczar0
USD/MXN Vulnerable amid Struggle to Test August HighUSD/MXN may threaten the opening range for September as it struggles to test the August high (20.2271). USD/MXN Rate Outlook USD/MXN continues to pull back from the monthly high (20.1496) to keep the Relative Strength Index (RSI) below 70, with a break/close below the 19.5620 (78.6% Fibonacci extension) to 19.6280 (23.6% Fibonacci extension) region raising the scope for a move towards 19.1470 (61.8% Fibonacci extension). Next area of interest comes in around 18.8560 (50% Fibonacci extension) but USD/MXN may track the positive slope in the 50-Day SMA (18.7936) as it holds above the moving average. Need a close above the 19.8990 (38.2% Fibonacci retracement) to 20.0900 (100% Fibonacci extension) zone to bring 20.3200 (38.2% Fibonacci retracement) on the radar, with the next hurdle coming in around the September 2022 high (20.5804). --- Written by David Song, Strategist at FOREX.comby FOREXcom0
Can Inflation Shift the Fedβs Rate Path? This weekβs inflation data could be decisive for traders as markets weigh whether the Fed will cut rates by 25 or 50 basis points. Last weekβs jobs report did not sway the market from its current consensus. The US economy added 142,000 jobs in August 2024, falling short of the expected 160,000, based on the latest NFP data. According to the CME FedWatch Tool, the likelihood of a 25-bps rate cut climbed to 73%, while expectations for a 50-bps cut dropped to 27%. Attention now turns to inflation, with consumer prices expected to fall to 2.6%βthe lowest since March 2021βand producer prices anticipated to rise 0.2% month-over-month. Key USD pairs to watch this week include EUR/USD, with the ECB's upcoming interest rate decision in focus. Additionally, pairs impacted by inflation data releases from Mexico, Brazil, Russia, and India could see significant movement. by BlackBull_Markets1
USD going to pump hard Real recession incoming, you can smell it in the air. We are due for a huge correction. Expecting a pump to resistance at around $17.50, thereafter one final drop to ~16.80 and an extreme pump after. $30 by 2028, you heard it here first. Longby SociablebearUpdated 252518
USDMXN may break the 20.20 level soonIntraday Update: The USDMXN is nearing the 20.00 level as Mexico's Lower house approved general text by AMLO which would allow justices to be elected by popular vote. This has kept pressure on the MXN and a break of the 20.0000, then 20.2300 would trigger upside stops. While above 19.6000 the risk remains higher.Longby ForexAnalytixPipczar2
Will USDMXN Break Resistance to Continue Uptrend? Wait and seeβ¦Interesting pair to watch with major Non Farm Payrolls coming up Friday. A strong beat above estimates could send pair higher, passed previous failure at 20.22 level. Daily channel favors bulls however I expect a tough push higher unless economic data supports USD strength. Bearish for now with light shorts. by Primetrdr88222
USD/MXN Bank Robbery plan to steal the moneyHola ola My Dear, Robbers / Money Makers & Losers, This is our master plan to Heist USD/MXN Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich. Note: If you've got a lot of money you can get out right away otherwise you can join with a swing trade robbers and continue the heist plan, Use Trailing SL to protect our money. Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low Stop Loss : Recent Swing Low using 2h timeframe Warning : Fundamental Analysis comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update. Loot and escape on the target π― Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target. Support our Robbery plan we can easily make money & take money π°π΅ Follow, Like & Share with your friends and Lovers. Make our Robbery Team Very Strong Join Ur hands with US. Loot Everything in this market everyday make money easily with Thief Trading Style.Longby Thief_TraderUpdated 229
USDMXN a sell perspectivePeso on a recent high at monthly levels divergence and trendline broken indicating down side move Shortby Mdsman5Updated 3
USDMXN Channel Up leading to 21.6500The USDMXN pair eventually gave us on our last analysis (June 27, see chart below) our desired bullish break-out above the multi-year Falling Wedge and the 1W MA200 and its next stop will most likely be our 21.6500 Target: To view this trend from a more comprehensive perspective, we made today's analysis on the 1D time-frame. The prevailing pattern is a Channel Up, which as you can see is technically on its 3rd Bearish Leg. Once it hits the 1D MA50 (blue trend-line) at the bottom of the Channel Up along with ideally the 1D RSI hitting its Support Zone, we will have the next short-term bullish signal. The Bullish Legs have so far been fairly symmetrical at a +15% rise. As a result our 21.000 Target is within the range of the expected rise ahead. ------------------------------------------------------------------------------- ** Please LIKE π, FOLLOW β , SHARE π and COMMENT β 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 us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- πΈπΈπΈπΈπΈπΈ π π π π π πLongby TradingShot115
USDMXN 13:22 14/08/2024No news but I reckon i found a decent 3 RR trade. Exotic markets always looked bullish to me. 19.95 price action targetby a1d1b13
USD/MXN: Positive Slope in 50-Day SMA in FocusUSD/MXN seems to be consolidating within the opening range for August as it struggles to extend the advance from the start of the week, but the exchange rate may track the positive slope in the 50-Day SMA (18.3576) should it continue to hold above the moving average. USD/MXN Rate Outlook Keep in the mind, the decline from the monthly high (20.2271) pulled the Relative Strength Index (RSI) back below 70, and USD/MXN may consolidate over the remainder of the month as the oscillator continues to move away from overbought territory. Failure to hold above the 18.5090 (23.6% Fibonacci retracement) to 18.6330 (50% Fibonacci retracement) region may push USD/MXN towards the monthly low (18.4291), with the next area of interest coming in around 18.2040 (23.6% Fibonacci extension). Nevertheless, a break/close above 19.1470 (61.8% Fibonacci extension) may push USD/MXN towards the 19.5620 (78.6% Fibonacci extension) to 19.6280 (23.6% Fibonacci extension) area, with the next hurdle coming in around 19.8990 (38.2% Fibonacci retracement) to 20.0900 (100% Fibonacci extension). --- Written by David Song, Strategist at FOREX.com by FOREXcom6
USDMXN Tech Zones Pre Open USD MXN fell into last week, bring us to key support into Monday, May see rejection following this and a bounce on local PA levels.by WillSebastian4
USDMXN at support ahead of Banxico todayIntraday Update: Ahead of the Banxico decision today, a descending wedge may be developing, and a break below the 18.95 level (hawkish hold) or a break back above the 19.38 level (dovish hold/cut) would be the breakout/breakdown points of interest today. Longby ForexAnalytixPipczar1
Peso Pressure Ahead of Major MXN Events Mexico's inflation data will be released Thursday morning, closely followed by the Central Bank of Mexico's interest rate decision in the afternoon. July's headline inflation in Mexico is expected to have accelerated to its highest level in over a year, according to a Reuters poll. However, the core index is anticipated to continue its moderation. Rising prices in July could complicate any plans for the central bank to lower its key interest rate this week. In late June, the central bank opted to keep its benchmark interest rate unchanged after a rate cut in March, the first since mid-2021 when it began its tightening cycle. The Mexican Peso has extended its losing streak to four consecutive days against the US Dollar, marking ten losses in the last eleven sessions. The currency closed above the psychological 19.00 level for two days, having surpassed the previous year-to-date high of 18.99. Market momentum could favor sellers, with the Relative Strength Index indicating overbought conditions. The immediate resistance might stand at the current year-to-date high of 20.22. On the downside, a breach of the 19.00 support level could open the path to the August stumble close to 18.50, followed by the 50-day Simple Moving Average at 18.20. by BlackBull_Markets3
USDMXN at key confluence Intraday Update: The USDMXN spike above the 20.00 level screamed past the 61.8% retracement and 161% extension before slipping back below the 20.00 level. Bulls will have to be really careful if we trade back above the 20.00 level intraday. by ForexAnalytixPipczar0
USDMXN PESO - LONG TERM SELLInitiated a sell trade targeting 18.25. If you're like me and like to trade small and long term this one has a lot of potential. You'll gain interest from the swap! A correction is due around this level. Keep watch and be patient. Good rule of thumb is to use low leverage and small lot sizes. Small wins are big wins over time. I like to do .01 for every $1000 usd that I have adding trades along the way (every 200 pips or so). Thats the plan. Shortby GlobalHorns0
USDMXNThis Weekly 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.Shortby TREND-TITAN0
Will the dollar recover its recent losses?Looking lately at the Peso/Dollar relationship, it has seemed as if the high prices for the dollar are here to stay and the super peso has come to past. It was surprising to see that the upward trend that price was on broke. However, price as of lately has been struggling to push downwards. This is because of the 25MA is acting as support on the daily chart. Additionally, seeing the 25MA acting as resistance in the monthly chart put this trade in an uncomfortable situation. Mainly because even though there is an uptrend in important time frames, this trend is being tested on a way larger time frame. On the other hand, the movement that brought price to these levels was very solid and has a lot of support under it. Considering 18.00 pesos per dollar to be quite a good deal, I would believe that many more people will see it this way and would rather be investing in dollars. In conjunction with the main Mexican index BMV:ME which has failed to recover from the down movement caused by the victory of the newly elected Mexican president. It's officially been a month since the index hasn't been able to break above the 25MA. If price fails to create an uptrend soon, this could lead to another 8% fall in the Index. This would create great buying opportunities in the Mexican market but could also cause investors to panic. Waiting to see if Mexico is in the verge of collapse makes me think that dominoes may be starting to fall. Meaning there could be something much more serious lurking under the water. This in combination with the high risk that the USA will enter a crisis makes me believe that if price of Mexican stocks doesn't begin to turn around, we could be on the verge of a new recession. The USA still seems to have some fuel left in the tank, which could help the Mexican index recover, as also the recent rainfall has been a blessing for many communities that were affected by the severe droughts all over the country. Meaning there is a possibility that Mexico will recover, but if it doesn't then this should be a red sign for the USA as your market is overextending. Meaning, if USA enters intro euphoria and Mexico into crisis, then we would have a severe economic divergence in two countries which economies are interconnected. Expect the best, prepare for the worst.Longby DarkMessiah777Updated 5
USDMXN - Looking Bullish USDMXN has broken the major downtrend line with some strength and appears to be making a corrective move at the moment. (possible retest) Now we have to wait how it will react at the Fibonaci levels that converge with the retest of the bearish trendline and with our daily SMMA (Red line), if there is a bullish rejection pattern it could be a good place to open a Long position.Longby The_Trading_Wizard_Updated 113
USDMXNI have a bullish bias on this pair. Previous daily high was broken thus indicating to me bullish trend still active . Longby Naf_fx0