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U.S. Dollar / Mexican Peso

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USDMXN trade ideas

Mobile (on the go) analysis I was asked to put together and analysis for this pair. I am pleased to see some strong support and resistance in play creating positive trade sentiment. A rejection at current resistance at market open will sentiment towards a bottom support retest at 19.53400. A break through resistance at market open will continue to make attempts for breaks through 20.19600 and 20.66400. If this occurs a huge momentum towards 22.00000 will be in play. MACD/SIGNAL cross in play and heading for 0 line. RSI dropping out of overbought zone. Pay close attention to payouts at support and resistance mapped. Again this is on my mobile phone so my apologies for the charting. Please comment with thoughts and ideas. Thank you
by Pika7993
1
BUY USD/MXN 1W TIME FRAME (BUY HOLD). Placing a buy position on USD/MXN Due to rises in COVID cases and new strains of COVID weighing in on Mexican PESO. The Mexican Peso remains vulnerable to a risk-off move, meaning the US Dollar will be picking up safe haven momentum. If this occurs, I would look for a break above 20.50 to start considering price reversal, with a close above the 21.00 line as a confirmation of short-term bullish bias. Risk/Reward Please send comment with feedback. #BLESSESPIPS
Long
by BLESSEDPIPS
5
USDMXN potential bottom reloadedSo USDMXN is respecting both the 19.61 level and the purple downtrend line. A lot of touches on the trend line (red circles drawn) and rejections. We are looking for a break on this trendline as a first signal of reversal. Below 19.61 we have 19.03 and 18.55 but we don't think it goes there. Similar fractal from when it climbed from 18.55 to 26, we were following a descending triangle that actually broke to the bottom before reversing hard. The market does what the market wants to do.
Long
by laventa