Despite my wrong prediction on USDMXN, I still believe Peso should take some territory from the USD in the upcoming weeks. Wave 3 targets have been hit today and it is a good moment to fall down in Wave 4 of 5. Notice also a huge bearish divergence on Weekly Timeframe Will short this pair once DXY reaches 100 figures as per my DXY charts posted earlier. Will set...
This morning I bought an $MXF stake at the open, and shorted USDMXN at 20.0022. I think we might be in the presence of an 'ending diagonal triangle', or terminal wedge, in Elliott Wave parlance, in particular according to the Neowave rules. If that's the case, we will a see brutal rally in the Peso, sending USDMXN down to 16.43 in approximately the time the arrow...
The Mexican peso has remained volatile due to numerous factors, including the price of crude oil, prospects of the Brexit and, more interestingly, the potential of a Donald Trump presidency in the U.S. The USDMXN had been on a steady bullish trend, and the peso's dramatic nine percent decline going into the first U.S. debate on September 26 was largely in part to...
We are back to 19.0000 levels, something to see next week if it holds its a good entry point to go long.
Stay long for long term but now oil price gains are making more strong the previous down movement stay aware of oil prices to enter low to the long..
I think about the USDMXN long for the long term, hoping to correct a little more to the down side but right now im just watching to enter the market at the lowest point to grab a long position.. stay tuned. Thing to watch - US presidential campaign news this week - Economic data from Mexico - International Crude Oil prices
The INDEX:MXX are in the accumulation zone at the weekly graph, and at daily and weekly graph are close to the end of an uptrend cycle. No more than 45900. this is a nice opportunity to go short or go out for few weeks. Ideas, comments, corrections. They are always welcome.
RunningAlpha dot com Capital Markets Intelligence High Priority Update for Monday, May 2nd, 2016 Although $39 and $36.50 remains baseline intermediate to long-term support for Light Crude Oil ( in reference to June Contract Pricing ), the recent advance upwards has opened the door for a further short covering rally upwards to $62 to $65, and perhaps $74 to $76...
A number of trade possibilities on this symmetric triangle. I personally would be bearish USD fundamentally, so look for downside breaks to trigger an extended move down. Breaks to the upside will also provide excellent opportunities for a short-term trade.
Hello Traders, I spotted a Wolfe Wave already underway. We just retested the underbelly of the 2-4 line. This would be a good short at the current level. An exit at the 1-4 line would secure profits.
Poor risk/reward, so I will question whether or not to enter this trade and will evaluate the fundamentals at the time of completion, as this profit target would usually be my second target. Hopefully this should form by the end of the week. Enter the formation at 17.43219.
Grupo Bimbo, we can see how finally the price broke the down trend channel, now maybe are enter at an ascending wedge. For now the price will be down for few days. Maybe can touch the 2.5/2.6 level for reboot an go up to 3.1/3.2 level Ideas, Comments, Corrections They are always welcome.
Technicals We have a Gartely pattern set up here. I am looking to go long at 0.03697, which falls between the 0.786 retracement and 1.272 extension along with 1:1 ratio between the AB and CD legs. There is also a divergence on the Relative Strength Index from a heavily oversold condition, supporting a spike from around the current price. Fundamentals...
The trend is clear, another movement has started. Will it get to 20? or will it stop at about 18.75? History and analysis indicates strong buying pressure and continuation of upward move.
Talk about rejection! Today we saw some crazy dollar strength. As of 3pm, the dollar had made a 100% retracement or 214 bps round-trip from this morning's ECI drop. The market gave a clear signal that it believes - or rather, more likely, wants , a Fed rate hike. That's all that matters, folks. Oil is heading lower. What's more, the technicals strongly support...
If you've ever taken an inter-city coach ride in Mexico as I have, you'll know that the country is crying out for an alternative way to travel. VLRS (aka Volaris, ultra cheap airline) is making an excellent recovery from its lows and I feel that in time it's heading back to the post IPO highs of $15 and more. I made a losing trade on this one last year but I...
The iShares MSCI Mexico Capped ETF has sustained its longest move above the 50-day EMA since September (prior to breakdown). If EWW is able to close above the 2015 resistance level at $60.50, look for a continuation to the $63-$65 area in the next 1-3 months. An initial stop loss on a stock position can be placed under $58. Option traders can consider buying the...