The USDMXN pair has been one of the most consistent buys in the forex market historically. In the last 6 years in particular there is a very clear Higher Lows trend-line that Supports the price and initiates major rallies when it is touched. The last contact with it was on May 30 and as expected, that caused a strong rebound. So far however it is contained within...
After checked FSR indicator I was able to locate some possible points which MXN will be follow. Due high scale I was NOT able to modify my first approach so please keep in mind that this is only the next moves but no exact dates.
The USDMXN pair has been trading within a Channel Up since late 2020. The Fibonacci Channel levels help at understanding bettern the Resistance and Support levels involved on each Higher High and Higher Low leg. Right now the price action seems to be about to complete the (3) and final leg of the correction similar to that of August 2021. That was the Accumulation...
✅USD_MXN went up sharply But a strong resistance level was hit Thus I am expecting a pullback And a move down towards the target SHORT🔥 ✅Like and subscribe to never miss a new idea!✅
✅USD_MXN is about to retest a key structure level Which implies a high likelihood of a move up As some market participants will be taking profit from short positions While others will find this price level to be good for buying So as usual we will have a chance to ride the wave of a bullish correction LONG🚀 ✅Like and subscribe to never miss a new idea!✅
Another typical procedure can be seen here, the combined advance by buyers cannot be prevented in the long run. This advanced would (and now we are seeing....) lay bare the base on the strong support at 18.9x. Much worse for Sellers, the attack on the highs involves 22.9/23.0 as a main target. For the strategy, the correct plan now consists of holding and adding...
USDMXN Entry Price 20.67130; Take Profit Price 20.84070
USDMXN Bullish Confluence Factors Trend: Up Level: EMA 10 Dynamic Level is above EMA 20 Dynamic Level; Four or more touches on horizontal support resistance level Signal: "Wait For Price To Close Above 20.88690 and then watch for a bullish price action signal near price level 20.88690."
$EURMXN is making higher lows in a descending wedge which is typically a reversal setup (higher in this case). There is a strong inverse relationship with risk assets (SPX in this case) so a move above 24.1700 would be a very bullish event.
USDMXN Entry Price Range 20.27720 - 20.47720. Wait for price to form a rejection candlestick in a pull back to the EMA 10 EMA 20 and Horizontal Support Resistance Level.
Hello traders! We want to share a chart with interesting and known pattern called triangle on USDMXN currency pair. As you can see, USDMXN is trading sideways since the beginning of 2021. With slow price action and corrective sideways wave structure, we believe it's just a correction within downtrend, ideally a bearish triangle formation within a higher degree...
It is operating in a support zone after the peak it reached last week. I see another probable bounce.
The USDMXN is trading close to a very solid support near the 200 EMA in weekly candle. It has been bouncing since November last year from that same support. The last time it broke the 200 ema was in May 2013; in February of last year it reacted strongly when it touched it. From my perspective, an upward rebound is more likely than a break of the support, which...
A possible bullish AB =CD pattern may be forming in the Mexican peso - US dollar pair. My hypothesis is that it will return to at least 20 pesos per dollar and then rebound. The most that could fall would be around 19.6 pesos per dollar. The potential reversal zone (D) coincides precisely with the 127.2% of the fibo and with a level that served as support in...
The Mexican Peso is about to experience a big short-term correction. The price graph is just above the short-term moving averages (10d, 20d and 30d), the moving averages are trending up and the fast stochastic indicator that I use signals an over-sold condition. Definitely a SHORT. Most likley to be affected by higher interest rates, but that is a story for another graph.