USD/MXN has broken the yearly opening-range with price now probing below the 2017 lows at 17.4515 - watch the weekly close.
A break lower keeps the focus on the 2016 lows, which converge on the 25% parallel near ~ 17.0505 .
Resistance eyed with the median-line / February low close around 17.9490
Michael Boutros , Sr Technical Strategist with...
On Wednesday, the US dollar decreased in value against other major currencies, including the Mexican peso, by over 1%, due to reports of slower than expected US inflation. This suggests that the Federal Reserve may pause its interest rate hikes. According to data from the US Labor Department, inflation in April decreased to 4.9%, which is the lowest year-over-year...
Mexican peso at monthly support . Bank of mexico rates stands over 11% if they continue to rise interest rates expect the trend to continue down . I think they no longer increase interest rates or they will halt their economic growth.
usdmxn is on the way to more falling in the deep of the market , please traders be respective and do not think to buy this market just sell it without any thinking I wish all good for you
Looking at usdmxn here i'm seeing a rejection formed with a Bearish OB on the Daily time frame. with Consolidating in a Triangle formation where price has finally broke and closed below this structure.formation At the same time we are breaking A major support area where we can see price continue to drop to the downside!!
This is for information and demo...
The price that moves within a bullish reaction zone seems to have broken down, however it quickly returned to shoot out above the OB, thereby confirming a false breakout or liquidity grab.
The above is usually the prelude to a strong upward movement, so if you are looking for long positions, the correct thing to do would be to look for confirmation in the minor...
Usd/Mxn has rejected this area for many days now.
Price just keeps getting rejected and rejected.
Tonight price finally started a decent push up on the early time frames.
This resistance has held for a long time now so we should be good to buy here!
Please use the position tool to guide your entry and/or exit into the position. I will update the idea whenever necessary. Look forward to more profitable trading signals. Happy trading: You're welcome!
MXN is a ROLLER coaster of a market and is not one to mess around with but is very fun to trade
Structure right now is lookking long and this is a possible position that could be taken
However MXN likes to move quickly and take people out fast then reverse so its a very risky market that you have to be patient with
Priced nicely respected a key level of support on the daily time frame. The pair has experienced a bullish movement since respecting support.
We expect to see a bullish continuation for the pair as price heads towards our initial target for this setup (18.94617).
What are your thoughts ?
Do you agree with my analysis ?
here's my analysis on usd/mxn don't get caught up to much in the fundamentals here, this is a technical entry utilizing market structure and OB
Disclaimer - Information Shared is for educational and Demo purposes Only
As our analysis on Sunday predicted, the price successfully reached the key resistance level and initiated a bullish reversal as well.
We expect the price to make a few adjustments in price before heading straight for our target.
What do you think ?
Do you agree with my analysis ?
