14.50 as a max discount I see two possible liquidity points to go through, overlapping a fib using an OTE I would like to see 14.50 before we can make a good push-up again.
USDMXN trade ideas
USDMXNThis Monthly FORECAST
Opportunity for USDMXN. This setup trading idea is for swing. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
USDMXN | Market outlookThe latest data from the U.S. Commodity Futures Trading Commission and LSEG indicates a decrease in speculators' net short positions on the U.S. dollar, coinciding with the greenback's rebound amid reduced expectations of Federal Reserve easing in March. The value of net short dollar positions fell to $9.799 billion, down from $12.7 billion the previous week, marking the largest decline since August. Speculative sentiment toward the dollar shifted notably, with a significant decrease in net euro longs. Institutional investors also decreased their significant shorts on the dollar, while leveraged accounts or hedge funds reduced net dollar longs. The dollar is set for a second consecutive weekly gain of 0.8%, supported by solid U.S. economic data and statements from Fed officials indicating a tempered outlook for rate cuts in the near term. Market expectations of a rate cut at the March meeting have decreased to less than 50%, compared to 80% the previous week. For 2024, futures traders anticipate five rate cuts of 25 basis points each, down from expectations of six cuts last week. Overall, the data reflects a more stable sentiment toward the U.S. dollar, with investors adjusting their positions in response to evolving economic and monetary policy expectations.
keep pushing down for a long time, I have wanted to see a cheaper peso. do not trust this much since my conviction is more than my bais.
USDMXN Consolidation before strong decline.The USDMXN pair gave us the most optimal sell signal on our last analysis (October 09 2023) and after hitting our 17.0500 target, is consolidating:
This consolidation is on 1D RSI terms, similar to September 28 - October 28 2022, when the RSI Triangle broke downwards and with that, the price was detached from the 1D MA50 (blue trend-line) and aggressively declined to marginally over the -0.236 Fibonacci extension. As a result, we are taking now another sell with our Target at 16.200 (Fibonacci -0.236).
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USDMXNThis Week FORECAST
Opportunity for USDMXN. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
USDMXN Buy BSL taken, unmitigated bullish order block, and inducements which has formed top side liquidity.
USDMXN = Dolla will appreciate vs Peso, Specially because:Dollar vs Peso just hit a upward trend.. very likely that it continues up in the short term.
Likely scenario for a sideways direction and then maybe a reversal to flat 17.
Long in USDMXNI have initiated a long position in the USDMXN forex market as the price has reached a significant demand zone. This trade decision is backed by a comprehensive analysis of market conditions, where I have identified key technical indicators and chart patterns that suggest a high probability of an upward movement.
The USDMXN pair has shown a clear bounce off the demand zone, indicating a strong potential for a bullish trend reversal. Additionally, the convergence of multiple factors, such as a bullish divergence in the oscillators, a break of a key resistance level, and a bullish candlestick formation, further reinforces the trade setup.
With a well-defined risk management strategy in place, I will closely monitor the trade, adjusting stop-loss and take-profit levels as necessary. By sticking to a disciplined approach and staying informed about market news and economic events, I am confident in my ability to successfully navigate this long position in the USDMXN forex market and capitalize on potential upward price movement.
Shot in USDMXNI have entered a short position in the USDMXN forex market as the price has touched a significant supply zone. This trade decision is based on a meticulous analysis of market conditions, where I have identified key indicators and patterns that indicate a potential downward movement. By strategically executing this trade, I aim to capitalize on this favorable opportunity, leveraging my expertise in trading to navigate the market with precision and achieve optimal results.
The USDMXN pair has shown a clear rejection at the supply zone, indicating a potential reversal in the price action. Furthermore, the confluence of technical factors, such as Fibonacci retracement levels, trendline resistance, and bearish candlestick patterns, adds further weight to the trade setup.
With a comprehensive risk management plan in place, I will closely monitor the trade, adjusting stop-loss and take-profit levels as necessary to maximize potential gains while minimizing potential losses. By adhering to a disciplined trading strategy and staying abreast of market developments, I am confident in my ability to successfully navigate this short position in the USDMXN forex market.
USD/MXNOn daily, it has made a big Doji which indicates for Shooting Star formation.
It also has rejected 17.4000 Resistance.
On Hourly, It formed Double Top and moving down and it's currently at this moment is correcting to continue Bearish move.
USDMXNThis Week FORECAST
Opportunity for USDMXN. This setup trading idea is for intraday. >> TAYOR
* This zone still valid.
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
USD/MXNOn Daily, All three EMA 20, 50, 200 (RGB) are Bearish. the trend is bearish too.
On lower Time Frame, the correction is at the all time high , ready to bounce back down.
USDMXN #peso #dxy #usd #mxn Due to technical and fundamental reasons I see dollar getting stronger against the peso. Adddtionally all that the central banks are doing fully supports my trade idea as the best possible option
Short in USDMXNI have initiated a short position on the USDMXN currency pair based on the price touching a supply zone.
After conducting a thorough analysis of the market, I have identified a significant supply zone where sellers have shown strong interest in the USDMXN pair. This zone suggests a potential reversal in price direction and presents a favorable opportunity for a short trade.
Trading based on supply and demand zones requires a deep understanding of market dynamics and price action analysis. I have carefully examined the price movement and identified this supply zone as a strategic entry point for a short position.
To manage risk effectively, I have implemented appropriate risk management strategies, including setting stop-loss levels to protect my capital in case of any unexpected market movements.
By taking advantage of this supply zone, I anticipate potential gains as the USDMXN pair potentially moves towards lower price levels. I will closely monitor the market and make necessary adjustments to optimize profitability and minimize risk throughout the duration of this short trade.
USDMXN Bullish for the first quarter of 24 Hello traders, this is my first fx technical analisys that i would like to share
Short in USDMXN"I have recently taken a short position in USD/MXN due to the emergence of a bearish harmonic pattern. After conducting a thorough analysis of the market, I have identified the formation of a bearish harmonic pattern, which suggests a potential downward movement in the price of USD/MXN.
This trading decision is based on the expectation that the price of USD/MXN will decline as the bearish harmonic pattern unfolds. I have also observed additional bearish indicators that support my decision to go short.
As a diligent trader, I will closely monitor the price action, market sentiment, and relevant economic factors to effectively manage my position and make necessary adjustments as the trade progresses. Implementing a strong risk management strategy is crucial to protect my capital and optimize potential profits.
However, it is important to note that trading USD/MXN or any other financial instrument carries risks, and careful consideration is necessary. I highly recommend conducting thorough research, developing a sound risk management plan, and, if needed, seeking guidance from a qualified financial professional before making any investment decisions."
Retest $17.10 then lower to $16.98
SCENARIO 1) Strong immediate Resistance at $17.07 currently on USDMXN, although a push to retest $17.10 would be fair. Key point is a Leg down $16.98 is in my sights.
SCENARIO 2) IPC Mexico INDEX for Mexican stocks takes a breather after reach ATH’s near 57,700. Indicators point to OVER-BOUGHT conditions plus a gap fill needs attention at 55,200. That would be a likely target for a retracement. In alignment the USDMXN would likely head back up $17.20-25.
SCENARIO 3) USDMX is at a prime level to form a DOUBLE-BOTTOM, which will ensure USDMXN a revisit to $17.50 psychological level.
