Get started

U.S. Dollar / Mexican Peso

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDMXN trade ideas

USDMXN Channelling Higher, Targeting 20.23Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The FX Cross USDMXN is channeling higher and is currently and the lower end of the support channel around 20.05. Expectations are for support to hold and the FX Cross rally towards the upper end of the trend channel at around 20.23, 0.81% away. If this upward price movement breaks down, a stop loss should be set at around 20. Technical Indicators The short (25-MA) and medium (75-MA) fractal moving averages indicates a change in trend in USDMXN, supporting the short term bullish view. Currently USDMXN is trading above these respective moving averages and there has been a bullish crossover on them, with the short term fractal moving average crossing above the medium term fractal moving average. Recommendation The recommendation will be to go long at market. Stop loss will be set around the 20.00 price level and a target of 20.23. This produces a risk-reward ratio of 2.50. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in USDMXN .
Long
by Ceddy86