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USDMXN

USDMXN on a spicy level 🦐USDMXN on the daily chart hit the monthly support (purple one) and started a strong bullish impulse. The market hit the upper trendline which is also at the level of a weekly resistance and retraced a bit. IF the price will manage to break and close above that level we can set a nice long order according to PLancton's strategy. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Long
by InkyGrip
10
USDMXN: Big Bullish Movement... Good Buy Opportunity!!We managed to see a crucial retest from 61.8 fib level for USDMXN. A good exotic pair to enter a BUY trade as we see it heading towards the resistance level @23.2200. As we starting seeing USD gaining strength, I believe price level could break 23.2200 resistance and head towards 1.618 fib level where we starts to see strong resistance pressure which we could potentially see a fall from there retesting 23.2200 and heading for the next resistance at close to 25.0000 price level. As of now, I will trade the BULLISH opportunity but do watch out for possible rejection at 24.0000 price level. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Long
by YGForex
1
Potential Buy in Canadian dollar mexican peso.Based on 5 year analysis it seems like the cadmxn trade is a great long term investment they have been in a very consistent upward trend since 2006. i added the pivot points in order to see what is currently going on. it is struggling to fall under the red pivot point. i believe this will be a buy since it seems like its going to bounce off that pivot point into the green square area. if it beats the green pivot point than i am expecting a bull run. i recommend selling short if the spot price falls under the red pivot point and red square area. Returning and buying once it surpasses those same green pivot points. Please leave any feed back ! are you buying or selling?
Long
by cortes5150
Breakout Of A Triangle On USDMXNHello traders, In this analysis we will talk about a triangle pattern. Those who are familiar with them, will know that these are one of the most popular patterns. The reason why they are so interesting is because while they are unfolding, momentum is decreasing, volume is low, therefore everyone wants to catch the breakout, because we know that sooner or later every correction comes to an end. And very often moves out of a triangle are sharp and fast! On USDMXN we see a break out of a triangle that can still continue towards the target. But if you dig deeper into the Elliott Wave triangles then you will know that a new reversal may show up in a few weeks, as this breakdown can be a final leg withing a higher degree of a trend as I described below. However, not all of the triangles are easy to be recognized, and that is where Elliott Wave shows its strength. Theory suggests that triangle form in five waves, A-B-C-D-E , so if you know the wave principle and you see five sub-waves, then you can already be one step ahead of others because it indicates that potential breakout is coming. Another thing that is very important is that triangle occurs within an ongoing uptrend, so you know in which direction the breakout is most likely going to happen. Also, it is good to know in which position of an Elliott Wave cycle do triangles occur. It can occur in wave 4 of an impulsive structure, wave B, and in a wave X. By understanding the Elliott Wave theory you know that once a triangle is complete the market is very often going to make a final move within a higher degree of a trend. So, not only that you spot the direction of a breakout but also understand that after that breakout, the market can be in final part of a higher degree structure. Trade well!
Education
by ew-forecast
1
USDMXN testing the recent lows 🦐After our last call on this pair (attached below), the market almost hit the expected target around 21.5000 area. On the weekly chart market look on a bearish momentum with a possible break of the recent lows in the near future. Price on the daily chart will probably test the daily structure before starting a bounce over it. If the price will break below the structure we will monitor the market for a nice short order. We will consider a long reversal only over the 22.0000 area ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Short
by InkyGrip
6