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USDMXN

is this what i think it is? (Descending triangle breakout?!)Over the last few days the USDMXN pair has developed lower highs and is showing signs of an early development of a descending triangle pattern. Being that this is coming off an uptrend, we can assume if it has at least 3-4 taps on the support/liquidity zone around 20.10 , it can go from 20.10 on the last tap straight into 20.85-21.00 , given that the extension of the breakout is usually around the length on the mouth of the triangle. Hoping this plays out as I did hit a stop loss on my previous analysis of shorting the peso into 19.50. Previously I failed to mention what could happen if this reverses and breaks the 20.10 level, if it does happen to reverse on our call, this can also break the 20.10 level, plunge into 20.00 , back to test new resistance of 20.10 then down to the next heavy level of resistance at 19.90-19.80 . Stay alert, take my analysis with a grain of salt, and lastly, lets get this smuddy. LOVE Y'ALL! - Lui Entry 1 TP1 (LONG) 20.09 20.40 Entry 2 TP2 (SHORT) 20.40-41500 20.10 Entry 3 TP3 (LONG) 20.10 20.80-21.00 PS, I've linked a reference for you all to check out on how the pattern looks, how it can play out if it does develop. Also each one of the trades I take has only a 1% Stop Loss in case the markets do not move my way.
Long
by luitrading
1
USD/MXN is going to the gulag... (19.00-19.50 SHORT)The dollar has been on a monthly & weekly bearish downtrend following the cap thrown from both sides of the latest elections, added to new doubts surrounding the now president Joe Biden. Within his first months we have seen a substantial amount of executive orders, however we have yet to see uncle joe help the homies out with the stimulus checks they are in desperate need of. Without this to stimulate the economy, followed by the measly Q4 GDP report TBA this Thursday, I believe the peso will gain that strength. This geopolitical analysis also coincides with the A1 technicals ya boy is putting on full display. As we can see, both in the DAILY as well as the WEEKLY, the pair has broken off a bigger descending channel into a smaller one. Both however have displayed key levels of resistance & support, with the 20.30 4H resistance just above the trendline being touched for juss a lil bit (50 cent voice) yesterday around 2AM CT, before melting back down & closing at the next 4H resistance just inside the upper side of the trendline at 20.10. If the pair manages to close below 20.00, a strong monthly resistance level, 19.80 - 19.60 - and lastly 19.50 would be valid daily levels of support where we could get to the BAGS. (YE$$IRRR) 2021 will be the year of luitrades to take over the USD/MXN pair, it is the only pair I have put consistent analysis into and I plan to share my outlook for the community to see on full display. This will serve as the mixtape before I get signed to a major label. The come up has begun.
Short
by luitrading
9 Trade Plans from Today's Live StreamQuick Video recapping all trade plans from the earlier live stream TRADE PLANS INCLUDE: EURUSD XAUUSD USDCHF GBPJPY USDCAD USDZAR EURAUD USDMXN CADJPY ---------------------------------- Please don't forget to FOLLOW, LIKE, and COMMENT ... If you like my analysis:) Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in Forex you should consider your knowledge, investment objectives, and your risk appetite. Only trade/invest with funds you can afford to lose.
by Michael_Harding
Mobile (on the go) analysis I was asked to put together and analysis for this pair. I am pleased to see some strong support and resistance in play creating positive trade sentiment. A rejection at current resistance at market open will sentiment towards a bottom support retest at 19.53400. A break through resistance at market open will continue to make attempts for breaks through 20.19600 and 20.66400. If this occurs a huge momentum towards 22.00000 will be in play. MACD/SIGNAL cross in play and heading for 0 line. RSI dropping out of overbought zone. Pay close attention to payouts at support and resistance mapped. Again this is on my mobile phone so my apologies for the charting. Please comment with thoughts and ideas. Thank you
by Pika7993
1
BUY USD/MXN 1W TIME FRAME (BUY HOLD). Placing a buy position on USD/MXN Due to rises in COVID cases and new strains of COVID weighing in on Mexican PESO. The Mexican Peso remains vulnerable to a risk-off move, meaning the US Dollar will be picking up safe haven momentum. If this occurs, I would look for a break above 20.50 to start considering price reversal, with a close above the 21.00 line as a confirmation of short-term bullish bias. Risk/Reward Please send comment with feedback. #BLESSESPIPS
Long
by BLESSEDPIPS
5
USDMXN potential bottom reloadedSo USDMXN is respecting both the 19.61 level and the purple downtrend line. A lot of touches on the trend line (red circles drawn) and rejections. We are looking for a break on this trendline as a first signal of reversal. Below 19.61 we have 19.03 and 18.55 but we don't think it goes there. Similar fractal from when it climbed from 18.55 to 26, we were following a descending triangle that actually broke to the bottom before reversing hard. The market does what the market wants to do.
Long
by laventa
There is a possibility of the beginning an uptrend in USDMXNMidterm forecast: While the price is above the support 19.5970 , beginning of uptrend is expected. If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 37. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_World
5
There is a possibility of the beginning an uptrend in USDMXNMidterm forecast: While the price is above the support 19.5970 , beginning of uptrend is expected. If the support at 19.5970 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 48. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
7