USDMXN trade ideas
And we SCORE! now we wait for next level hold to see next trade20.22 to 20.46 was a nice move for one day profit! expecting more to come
-Waiting for reaction on key levels to see if we doing another long or a short!
20.14 is main hold for now to keep bullish! expecting a bounce on this levels, if not 20.00s -- break under could signal another test downside to 19.6s
Ill update afterwards
Like the Idea if you think these are helpful :)
followed last signal?break above 20.16 into 20.30 for profit worked great. now testing again.. looking like its positioning to do another leg up
We meet againLast week I attempted to short the usd/mxn and it didn't work out to say the least. This week I am back for more. The trend is still bearish and we are still below the midpoint of the range (rectangle). Selling here or higher with a stop above todays high at 20.4000. Hopefully the spike up marked the top and there will be continuation to the downside over the coming days and weeks. Ideally I would love to see the pair revisit the lows near 19.5000
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.
not much changed from last post, just profit levels are adjustedgood levels!
Be careful on weakness and dont get trapped
Profit levels are looking good, and price ranges around sign are a go
Here's an idea for USDMXNUSD continues to look bearish. a pullback then continuation of trend is what i see.
USDMXN TRENDIt is possible to expect some strength on USDMXN, a potential retest to the descending resistance of the daily channel.
USD/MXN Monthly AnalysisJust seeing will Peso bounce off the trend line for major pips on the monthly
Is USDMXN heading to $19.50 ??? After observing price is finding resistance at $20.00, and Stochastic indicator is at a level of 92 (pverbought), price might move downward to a lower low, probably $19.50
I am personally entering a short position
STOP LOSS $20.02
TARGET 1: $19.70
TARGET 2: $19.60
TARGET 3: $19.50
Not financial advice, do your own research...
