USDMXN - weekly and H4 analysisA large weekly triangle
H4: a several months of a sideways move, ready to break down, IMO
USDMXN trade ideas
USDMXN 07-09-2021Weekly:
-Inverse H&S.
-Bullish M pattern.
Daily:
-M formation.
-Bullish M pattern.
4H:
-Bullish M pattern.
-IC.
SellOur analysis shows a sell potential. Sell after 2 bounces, H1 should be bearish.
Sell when you see rejection that are long wicks
USDMXN Possible Long OpportunitiesUSDMXN completed a deep reversal completing a bullish bat pattern on the 4 hour timeframe. Not only that, but reacted very nicely to an area of daily demand. Long opportunities could be possibly taken from this area as long as price holds above the demand area and starts shifting structure to the bullish side. Possible profit targets are marked in the chart.
USDMXN In August the Mexican peso weakened from 19.848 to 20.071 against the US dollar. Economists at MUFG Bank expect MXN to depreciate from the 4Q onwards amid tapering cycle in the United States.
Mounting COVID-19 cases and deaths with Delta variant, and sluggish vaccination rollout in Mexico
“Assuming that FED tapering starts later this year and it will carry on at a gradual pace during next year, we see room for moderate MXN appreciation in the near-term as market fears over more aggressive tapering ease.”
“However, the pace of MXN appreciation tends to be limited by the more concerning COVID-19 scenario in Mexico. The pace of vaccination continues to be sluggish, the number of cases is at record levels and deaths have been increasing as well.”
“We now expect the MXN to be at around 20.150 at the end of September.”
“From 4Q onwards, there is room for gradual MXN depreciation driven first by the beginning of Fed tapering, followed by the expectation of the FED funds rate hikes that might start later next year/early in 2023.”
H4 MXNthe weekly analysis has u all caught up we now looking for shorts until a divergence is spotted 🔥
USDMXNThe lower lows were in play and it has recently taken support from FIB level 1, incase it closes on current levels which are actually 4 hourly strong trend line support than a buy attempt can be made with strict SL.
USDMXN double top complete (almost)USDMXN is nearing trend line support and 88% retrace, double top target at 19.9100, should find support near these levels.
Ascending triangleTriple bottom with Ascending Triangle as confirmation
Mexican Peso beginning to fall in price
Ride the wave up
-LarenzoYouDork
usdmxnLooking for buys in usdmxn. It has a high probability chance of breaking the top price level 20.730
USDMXN, BUYWhere are you seeing the most probable support zone? It takes long time to see. Good luck everyone.
WEEKLY ANALYSIS,TRADE OF THE WEEKAll my previous idea that i posted 90% of them were successfull trade. Check and make it your own backtest to my profile.
I will post every week, follow me
NB: its only weekly trading/swing trading
LONGEnter: 20.20620
Exit: 20.28400
SL: 20.14162
Bull Reason:
1. Moving in a range
2. At buy ZONE
3. RSI BULLISH DIV
4. FAITH IN GOD
BEARS:
1. Any thing Can Happen
USDMXN updates after JacksonThe positional struggle, or put simple the slow siege from sellers back to the base is finally exhausting.
Powell has attacked with a move several times the strength of the surrounding defence. USD will now maintain the pressure and birth of fresh strength will unlock the next leg higher in USDMXN.
Since 2018 we have been tracking the explosion higher. The break of the ABCDE triangle with Covid has already been analysed several times, much rather talk about the significance of the next move. Well, it renders the precedent and totally immobility of MXN, Powell confirming the USD offer is starting to expire means breaking strong support is no longer possible.
On the technicals we must be clear, the 18 handle contains not a little resentment but rather the ambitious dreams of forcing another move similar to what we saw in 2020, allowing our opponent into a false sense of security with a trap before capitulating as far as the eyes can see. The resistance to the topside is now mostly dead and buried.
For those looking to buy, the goal above comes in to play at 22.3x and 22.9x as a ideal extension.
USDMXN1 - Dow - Bear
2 - Candlesticks - Bears (Twizzer Top)
3 - S&R - Bull (Resistance)
4 - Trend - Bear (Tred Line Broken)
5 - Divergence - NA
6 - Seasonal Analysis - NA
7 - Chart Pattern - Bear (Double Top)
8 - Fib - Bear (Bounce from 32% Level)
Bulls Vs Bear
1 - 5
Trading Plan
Risk Level - 5%
Stop Loss - 20.40225
Entry - 20.25275
Take Profit 1 - 20.10950
Take Profit 2- Trailing Stop Loss
GOING LONG ON USDMXNHi I am going long on USDMXN after seeing an inverted bullish hammer form on this Daily level. I am targeting previous weekly highs.
USDMXN long position soonFirst proper break and retest of the trend. Needs a little more time IMO but looking good so far.
Looking to buy dips USDMXN at 20.2500Looking for range previous highs at 20.2500 level to be supported, and now dips will find buyers now that we are above the 200dma.
USDMXN OpportunitiesUSDMXN, after being stuck in a range finally broke to the upside demonstrating some bullish structure and momentum. An opportunity could be taken in the marked area or near it as long price "rejects, establish clear support" and respects the previous resistance as a support this time.
