U.S. Dollar / Mexican Peso
18.53066MXNR
−0.01624−0.09%
As of today at 04:45 GMT
MXN
No trades
USDMXN trade ideas
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
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
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.
