USD/MXNPennants are the most effective formation that almost, %95 of the time will work.
Go bearish on this pair as on daily chart Pennant is broken.
USDMXN trade ideas
USDMXN - IN A RANGEPOSSIBLE COULD SEE RETESTING 20.20 S AREA AND THEN BACK CLOSE TO 20 S LOWS ...
MUCH WILL DEPENDS ON THE RISK MOODE OF THE MARKETS ..SPECIALLY THE S&P AND DXY
GOOD LUCK
Mexican peso loses ground against recovering dollarWith the President of Mexico Andres Manuel Lopez Obrador testing positive for Covid and a delay on stimulus deals in the us push
US dollar higher. also federal reserve spokesman Jerome Powell mentioned how they will do anything necessary to keep the US DOLLAR
the reserve currency of the world. if the US dollar continues to gain momentum we can possibly see a jump to 21.00-21.50
or on the downside push to retest support at 20.00-19.80
This could go either way Looking at past head and shoulders we looking at a possible bullish trend to get back to it high in September we hit a new low last week but this could be a fake out and give us a new high for it as well I would sell till i get a good buy entry
UsdMxnThe price reached a resistance zone at 20.66250, went down and again returned to this zone. A rise in the weekly chart, however the macro trend is downward. I expect a drop at 19.58.482, then 19.04460 and finally a TP at 18.55124.
And we SCORE! now we wait for next level hold to see next trade20.22 to 20.46 was a nice move for one day profit! expecting more to come
-Waiting for reaction on key levels to see if we doing another long or a short!
20.14 is main hold for now to keep bullish! expecting a bounce on this levels, if not 20.00s -- break under could signal another test downside to 19.6s
Ill update afterwards
Like the Idea if you think these are helpful :)
followed last signal?break above 20.16 into 20.30 for profit worked great. now testing again.. looking like its positioning to do another leg up
We meet againLast week I attempted to short the usd/mxn and it didn't work out to say the least. This week I am back for more. The trend is still bearish and we are still below the midpoint of the range (rectangle). Selling here or higher with a stop above todays high at 20.4000. Hopefully the spike up marked the top and there will be continuation to the downside over the coming days and weeks. Ideally I would love to see the pair revisit the lows near 19.5000
USD/MXN is going to the gulag... (19.00-19.50 SHORT)The dollar has been on a monthly & weekly bearish downtrend following the cap thrown from both sides of the latest elections, added to new doubts surrounding the now president Joe Biden. Within his first months we have seen a substantial amount of executive orders, however we have yet to see uncle joe help the homies out with the stimulus checks they are in desperate need of. Without this to stimulate the economy, followed by the measly Q4 GDP report TBA this Thursday, I believe the peso will gain that strength. This geopolitical analysis also coincides with the A1 technicals ya boy is putting on full display.
As we can see, both in the DAILY as well as the WEEKLY, the pair has broken off a bigger descending channel into a smaller one. Both however have displayed key levels of resistance & support, with the 20.30 4H resistance just above the trendline being touched for juss a lil bit (50 cent voice) yesterday around 2AM CT, before melting back down & closing at the next 4H resistance just inside the upper side of the trendline at 20.10. If the pair manages to close below 20.00, a strong monthly resistance level, 19.80 - 19.60 - and lastly 19.50 would be valid daily levels of support where we could get to the BAGS. (YE$$IRRR)
2021 will be the year of luitrades to take over the USD/MXN pair, it is the only pair I have put consistent analysis into and I plan to share my outlook for the community to see on full display. This will serve as the mixtape before I get signed to a major label. The come up has begun.
not much changed from last post, just profit levels are adjustedgood levels!
Be careful on weakness and dont get trapped
Profit levels are looking good, and price ranges around sign are a go
Here's an idea for USDMXNUSD continues to look bearish. a pullback then continuation of trend is what i see.
USDMXN TRENDIt is possible to expect some strength on USDMXN, a potential retest to the descending resistance of the daily channel.
USD/MXN Monthly AnalysisJust seeing will Peso bounce off the trend line for major pips on the monthly
Is USDMXN heading to $19.50 ??? After observing price is finding resistance at $20.00, and Stochastic indicator is at a level of 92 (pverbought), price might move downward to a lower low, probably $19.50
I am personally entering a short position
STOP LOSS $20.02
TARGET 1: $19.70
TARGET 2: $19.60
TARGET 3: $19.50
Not financial advice, do your own research...
USDMXN: Technical analysis. Hello traders,
As it is seen on the chart wave C is moving towards the resistance zone at 20.13000.
Thanks.
