USDMXN sellThis pair is bullish overall, but on W1, we anticipate a retest after the weekly impulse move before moving up again.
The sell call is based on the break of the H4 upward trendline.
USDMXN trade ideas
Trade Like A Sniper - Episode 44 - USDMXN - (14th June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions.
A couple of things to note:
- I cannot see news events.
- I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range.
- I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks
In this session I will be analyzing USDMXN, starting from the 3-Month chart.
If you want to learn more, check out my TradingView profile.
USDMXN at supportIntraday Update: The USDMXN has come back to the key 18.50 level and could allow for buyers to step in near term.
USDMXN 18.50 will be support nowIntraday Update: The USDMXN has just squeezed higher towards 19.00 (likely a barrier there) ahead of the CPI and FOMC today as America time zone traders are getting in front of computers and closing any remaining shorts as the pair was comfortably above 18.50. Any dip back to 18.50 today may find buyers now.
USDMXN to 30 pesos by DecemberJanuary Some lines and drawings showing why it going back to up to 30 this year
USD/MXN - What´s going on.. Mexican power begin to take force..
If the market have the enough liquidity, trend is coming..
We have to wait for a good entry confirmation..
Maybe still congestion but you have to pay attention !!!
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USDMXN has met strong resistance Intraday Update: The USDMXN is back at the 18.5000 level which was previous support in early 2020 previous to the Covid lockdown squeeze higher. Around these levels should offer some very strong resistance near term as the daily RSI is overbought and divergent.
I see a bump for the Mexican Peso and then a dive after summerI anticipate the antiglobalism movement will enrich Mexico for cheap labor (unless Trump gets elected then the Peso will melt down due to the tariffs) where China is already passing our own tariffs by exporting to Mexico where it gets a new shiny label and tariffs don't apply. I believe a billionaire has made moves to gather up the trucking and logistic companies in Mexico because of the growth. Afterwards, no matter what, the dollar TVC:DXY will soar to 140-160+ until itself too implodes leading to hyperinflation in the USA which will catalyze an opportunity to move to CBDC's based on social credit scores (negative interest rates).
I also see the TTM squeeze executing on all major TF's so a major move is coming!! Usually we see a bounce of the opposite side as a fake breakout, then a squeeze in the opposite direction lasting for 8 TF bars. Multiple consecutive TF's hint at a massive move and alignment
Trials and Elections: 3 Market-adjacent events to watch Trump and Hunter Biden Trials
Former U.S. President Donald Trump was convicted last week on all counts of falsifying business records. Trump faces sentencing in one month’s time on July 11. Each of the 34 felony counts could result in up to four years in prison, although first-time offenders (or ex-presidents) like Trump are rarely incarcerated.
Meanwhile, a jury was sworn in on Monday for a (show?) trial of Hunter Biden, son of President Joe Biden, on gun charges.
Mexican Election
The Mexican peso continues to fall sharply towards 18.0 per USD, its lowest since October 2023, following results indicating a supermajority win for the Moderna party and its allies in Congress. Claudia Sheinbaum, the Moderna party candidate, won the presidential election by a significant margin.
As noted in Reuters, "The peso is underperforming amid growing concerns that the governing coalition's supermajority in the lower house might lead to the implementation of non-market-friendly policies,".
Indian Election
The Indian rupee plunged past 83.5 per USD, nearing its record-low of 83.7 from April. This movement erased the sharp rally triggered by early vote tallies, as updated counts indicated that incumbent PM Narendra Modi’s Bharatiya Janata Party is likely to secure a much narrower victory than anticipated.
Amidst the election turmoil in the world's largest democracy, the Reserve Bank of India's (RBI) monetary policy decision is also expected this week. In April 2024, the RBI maintained its benchmark repo rate at 6.5% for the seventh consecutive meeting.
almost 6% lower in 2 days may be enough for the MXNIntraday Update: The USDMXN has reached the 127% extension (close with a high at 18.1988) and intraday RSI's are very overbought which has prompted us to remove the Pattern in Play near term. Looking for dips back to 17.60/17.50 to be supportive in the days ahead.
USDMXN should hold gains nowIntraday Update: Following the election in Mexico over the weekend, the MXN has weakened substantially today, down over 3.5% against the USD at writing. Technically, we'd expect dips back tot he 17.3800 level and then the 200dma to hold as support on any dip.
USDMXN at the 50dma and key resistance Intraday Update: USDMXN has rallied to the 50dma and top of the resistance zone. If it is to turn lower, it would be near here. A break above the 16.80 may illicit a squeeze higher.
USDMXN-DOUBLE BOTTOM LOW VOLUMENote: Currently on 1 year RTM, and currently bullish Biased
2 Weeks: Double bottom Divergence, and expecting continuation
Best entries to manage stop on small time frames
USDMXN is approaching the main downtrendHey Traders, in today's trading session we are monitoring USDMXN for a selling opportunity around 16.67 zone, USDMXN is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 16.67 support and resistance area.
Trade safe, Joe.
UsdMex to short,looks like a nice chart to go shortHello fellow traders , my regular and new friends!
Welcome and thanks for dropping by my post.
Trend looks set ,watching for oppo so short
Do check out my recorded video (in trading ideas) for the week to have more explanation in place.
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Strong peso with long and short opportunitiesThe peso will continue to be a strong currency throughout the year. The country's economy is robust and interest rates will remain high longer than those in the United States. Returning from Europe I see that the same thing happens with respect to the euro. It is not yet time to go long against the Mexican peso.
I hope the peso continues to strengthen and only rises for politically important moments.
For days close to the presidential elections I see that it could reach 17.25 by the end of May and up to 18.01 starting in June due to the same issue of the elections. I see consolidation but in general the peso will continue to be a strong currency. Reaching values close to the floor of 16.30
So in general short-term sales looking for supports and purchases at moments close to political decisions.
RR=4 buy ideabullish alt bat pattern + RSI divergence + breakout of resistance followed with a pullback
PS never risk more tha 2% of your capital per trade
Mexican Peso Navigates Uncertain Monetary Policy LandscapeThe Mexican Peso (MXN) faces a challenging economic landscape characterized by conflicting signals of growth optimism and persistent inflation concerns. The upcoming decisions of the Bank of Mexico (Banxico) and the US Federal Reserve (Fed) will heavily influence the Peso's trajectory against the US Dollar (USD).
In Mexico, strong economic performance has stirred speculation about a potential interest rate cut by Banxico, contrasting with worries over inflation exceeding targets. This divergence in opinions among analysts could drive short-term fluctuations in the MXN/USD exchange rate.
The Fed's recent indications of a possible rate reduction later in 2024, coupled with Mexico's April Consumer Price Index (CPI) data release and Banxico's policy decision, are pivotal events that will shape the Peso's direction in the coming weeks.
Traders are advised to consider a long (buy) position on USD/MXN, entering at 16.98873 with various target prices (T.P.) and a stop loss (S.L.) level at 15.61102.
Second attempt USD/MXN buys?USD/MXN buys attempt 2
Viewing my previous loss as a potential liquidity grab.
Structurally overtime price is in an uptrend from all time to now.
Looking for price to fill the massive wick to the upside.
Lower probably trade(could wait for confirmation if price changes character to the upside round 17.03850.
Also bought USD/ZAR
MXN overvalued but not ready for long term sell.Mexican peso looks overvalued but long term sell signals are still missing. Current support is 15.79 and 17.61 as resistance. MA slow is 18.9 and MA fast is 17.8. Only sell signal is stochastic.
Resistance and MA signals might break after Mexican elections on June 2nd.
