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Forex Analysis for USD/MXN

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USD/MXN has reached the key area
USD/MXN has reached the key area
Trade ideas SELL 20.10; TP 20.00; SL 20.13 BUY 20.30; TP 20.50; SL 20.25 USD/MXN had a very bullish August. The pair is currently testing the resistance line connecting the highs of 2017 and 2018 at 20.12. This is, of course, a very significant obstacle. Even though the USD is currently trading abov...
1
USD/MXN is trading in a range
USD/MXN is trading in a range
Trade ideas SELL 19.60; TP1 19.55; TP2 19.40; SL 19.62 Let’s try some range trading. It seems that such an opportunity has presented itself in the pair USD/MXN. This pair is quite used to sideways trading. On D1, we see that the upper wicks of the recent candlesticks have been longer than the lower ...
0
USD/MXN: the clues from the technical picture
USD/MXN: the clues from the technical picture
Trade ideas SELL 18.97; TP 18.90; SL 19.00 BUY 19.20; TP 19.28; SL 19.18 As you look for the technical trade ideas, pay attention to USD/MXN. On D1, the pair formed a bearish “shooting star” candlestick ahead of the resistance line from December high. In addition, the 100-day MA went below the 200-d...
2
USD/MXN came in motion
USD/MXN came in motion
Trade idea SELL 18.98; TP 19.90; SL 19.00 USD/MXN fell for three days in a row, dived below 50-day MA (19.15) and closed yesterday below the support line going through 2018 lows (19.04). The Mexican peso is supported by the rising oil prices, while the USD weakened ahead of the Fed’s meeting. If the...
0
What about the Latam currencies?
What about the Latam currencies?
With all this Brexit mess it’s very easy to forget about other currency pairs. Let’s consider what is going on in the world of the Latin American currencies. Brazilian real (BRL) The currency has strengthened on the increased risk-on market sentiment and domestic market enthusiasm surrounding the go...
0
USD/MXN remains under pressure
USD/MXN remains under pressure
Trade idea SELL at 19.06; TP 19.00; SL 19.08 USD/MXN is testing levels below 50-week MA (19.2130) and is vulnerable for a slide to the 100-week MA (18.9090). The pair is trading within a narrow rapid downtrend channel on D1. The next level of attraction is the 78.6% Fibo retracement in the 18.95 ar...
0
A trade idea for USD/MXN
A trade idea for USD/MXN
Trade idea SELL at 20.20; TP1 20.10; TP2 19.98; SL 20.28 USD/MXN has met resistance at the line connecting 2017 and 2018 highs. On D1, it went far from the moving averages that are currently below the price chart and will likely correct down. The dynamics of the pair resembles a “Three drives” patte...
0
The struggles of the Mexican peso
The struggles of the Mexican peso
The USMCA agreement between the US, Canada and Mexico and the new president-elect inauguration were expected to shed some light on the MXN. However, the election of Andres Manuel Lopez Obrador resulted in many uncertainties for the investors and therefore weakened the Mexican peso. One of the main r...
0
The ups and downs of the Mexican peso
The ups and downs of the Mexican peso
The new agreement between the United States, Mexico and Canada (USMCA) did not result in the long-term strengthening of the Mexican peso. The main reasons for it lie in both external and internal factors. The key internal factor of the weak performance of the Mexican currency is connected with the f...
0
USD/MXN facing key resistance at 18.73
USD/MXN facing key resistance at 18.73
The USD/MXN pair remains trading above the 200 SMA and it’s approaching a key offer zone, which should activate sell orders in a short-term basis. The resistance level of 18.74, which is a Fibonacci area of 65%, could provide the enough momentum to the upside in order for the pair to resume the bear...
4
Daily analytical report (17/11/17)
WTI oil respected the long-term support created by the highs from the end of 2016 and the first half of 2017 (grey area, 55.1 USD/bbl). This level coincided with the upper boundary of the upwards channel. The price tested that area for two days but buyers finally managed to put an end to the short-....
5
Daily analytical report (09/11/17)
Gold finally broke the 50% Fibonacci around the 1,282 USD/oz mark, which has been a strong resistance since the 23rd of October. After that, the price defended it as a closest support and made new mid-term highs. According to price action principles, this should trigger a buy signal. USDMXN is form....
6
Daily analytical report (27/10/17)
As expected, WTI oil used the ascending triangle to climb higher. Yesterday, the price broke the upper line of this formation. Today, we have a flat correction testing the 52.6 USD/bbl as the closest support. The hammer on the H1 looks promising and there’s a high chance that this will result in a ....
5
Daily analytical report (17/10/17)
USDMXN. We can see the first signs of the exhaustion here. After breaking the upper line of the triangle, the price surged higher. Now we are approaching the 38.2% Fibonacci where we may see some profit taking action from buyers. That resistance is additionally strengthened by the highs from March,....
7
Daily analytical report (06/10/17)
An hour before the NFP report, USD is a bit weaker and is erasing some of its latest gains. A triple bottom could be forming on the EURUSD pair, which could actually end the bearish correction here. The price is defending the 23.6% Fibo and today we should see some demand at this important support.....
5
Daily analytical report (06/09/17)
Stocks are trying to recover today from the heavy blow they received yesterday. The US Dollar is significantly weaker and the focus of market participants is slowly shifting towards the ECB meeting on Thursday. In a few hours, we will get a small aperitif from the BoC with their rate statement. Gol....
7
Daily analytical report (26/07/17)
In light of the loomin FOMC meeting, we have three nice setups for you. First up is the AUDUSD, which is in a long-term up trend after breaking the upper line of the symmetrical triangle. We have a local correction here, which is a rectangle. This suggests a further upswing, especially since we jus....
5
Daily analytical report (07/07/17)
USD gains strength ahead of the NFP data. If you are a trader who wants to avoid volatility and has strict money management rules, you should probably not open a position this Friday afternoon. If you love a bit of excitement in your trading, we have three nice technical situations, all with USD. L....
8
Daily analytical report (21/06/17)
Wednesday brings us a small correction on the USD. The day is rather calm and the focus is shifting towards oil and global indices. The cable is defending a very important support on the 1.265. At the same time, the price is bouncing off the lower line of the wedge formation. Both of these factors ....
8


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