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
USDMXN Falling Wedge: Showing Triple MACD Bullish DivergenceIt looks like we will be breaking out of a falling wedge soon while showing triple MACD Bullish Divergence on the Daily after holding support on the 200 week SMA and log scale 786 fib retrace with Hidden Bullish Divergence on the weekly shown here:
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
Downtrend USDMXNMy Analysis will predict the market will make its downfall then reject from up to down again.
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.
USDMXN: Technical analysis. Hello traders,
Wave 5 has probably ended. A pullback is supposed to materialise towards the resistance zone at 19.72000.
Thanks.
Mexican standoff USD/MXN has been in a range since early December but I think its getting ready to breakout to the downside. As long as price stays below 20.0000, I could see a move all the way down to 18.5000 near the pre covid lows. I think the FED has been clear about its policy and any reflation should positive for the peso. The move in crude oil should also be a tailwind.
potential buy on USDMXNThis idea contains market analysis and is directly related to current market conditions.
This should be a trade setup, buy signal or an attempt to predict future price movements.
