USDMXN trade ideas
Long USDMXN in the next eight hoursUSDMXN has retraced in the last few days.
It has maintained the support on Monday March 15, 2021.
I expect that over the Asian session the USDMXN will recover some of the ground, approaching the recent peak at $20.93. Buy at $20.66, stop loss at $20.63, take profit at $20.80
USDMXN sellers in chargerejection appeared and now sellers have taken control. I am short until the support area
USDMXN H8 | Intraday - Additional support is seen near the Feb lows at 20.16000. Medium-term momentum has turned negative as the MACD generated a crossover view. Small pullback to 20.1600.
MEXICAN PESO The Mexican Peso is about to experience a big short-term correction. The price graph is just above the short-term moving averages (10d, 20d and 30d), the moving averages are trending up and the fast stochastic indicator that I use signals an over-sold condition. Definitely a SHORT. Most likley to be affected by higher interest rates, but that is a story for another graph.
Bullish USDMXNCurrent price level is stuck at the 20,89 level and its also the touch of the inner uptrend line.
One of two scenarios can play out here.
1) Price can break through inner trendline too retest outer trend line and then continue bullish.
2) Price can reverse immediately
Suggest to wait for a clear bullish signal by end of this week or early next week.
USDMXN ABOUT TO ROCKET UP! (3 Confirmations)Regular Bullish Divergence:
Price is making a higher low(HL) and the stochastic oscillator is making a lower low(LL) which is normally found at the continuation of an uptrend. I will be watching for price action to see if USDMXN will reject off of this trend-line.
Priceline is also at the "Golden-Zone" fib retracement, which makes a total of 3 confirmations for this buy position.
1. Bouncing off of current bullish trendline
2. Regular Bullish Divergence (Stochastic Oscillator) which shoes continuation of uptrend
3. Hitting "Golden Zone" for fib retracement
BULLISH MOMENTUMThis is my bullish trend idea. However, wait for clear trend continue moment and wait for trend continue after can entry . This is my opinion, not for any signal service. Good luck.
USDMXN reversal coming?Hi traders
move your stop or take profit. the coming week I will expect to look for sell setups
but for me to consider buy I need to see the aggressive move up to break the structure and have correction above for the confirmation. watch for sell setups. good luck
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USDMXN Target Price 21.49836 (Entry Price 20.86410)Wait for a pull back to horizontal support resistance level and dynamic support resistance level for an entry.
Small update on USDMXNtrade the ranges!
if it goes up dont wait for a pullback to go in, follow price
