Over the last six trading sessions, the USD/MXN price has dropped more than 3.5% as the Mexican peso has regained ground lost due to the ongoing conflict between Mexico and the White House. For now, the bearish bias has been driven by the March 6th extension on the tariff imposition, which gave the Mexican government a reprieve until April 2nd. This has allowed the Mexican peso to maintain a steady uptrend in the short term, sustaining selling pressure on USD/MXN. Lateral Range: Since early November 2024, USD/MXN has been oscillating within a sideways range, marked by a ceiling at 20.89 pesos per dollar and a floor at 20.07 pesos per dollar. The current bearish bias has pushed the price back to the lower boundary of the channel, and the weakening momentum of the last few sessions could reinforce the support barrier that remains intact. ADX Indicator: The ADX line has started showing consistent neutrality near the 20 level, suggesting that recent movements lack strong trend direction. This indicates that neutrality may persist as the price continues approaching the support level. MACD Indicator: The MACD histogram shows a similar scenario, with oscillations remaining very close to the neutral 0 level. This reinforces the current indecision in the market as the price approaches the support zone. Key Levels: 20.43: Near-term resistance zone, aligning with the midpoint of the broad sideways range and converging with the 50- and 100-period simple moving averages. Sustained oscillations above this level could keep the sideways range active in the long term. 20.07: Crucial support zone, located at the lower boundary of the broad sideways range. Consistent oscillations below this level could break the current range and pave the way for a more prolonged bearish move in the coming sessions. 20.89: Distant resistance zone, marking the upper boundary of the sideways channel. If the price reaches this level, it could reactivate the forgotten uptrend. By Julian Pineda, CFA – Market Analyst
Here's an analysis of the Gold Market Price Action: **Current Price Range**: The Gold market is currently fluctuating between **2920** and **2915**. **Scenario 1: Bullish Outlook (H4 candle closes above 2920)**: - If the **H4 candle closes above 2920**, this would suggest a potential continuation to the upside. - **Target Zones**: The next potential resistance levels could be around **2940** to **2960**. This would suggest a bullish trend, and traders might consider entering long positions with these targets in mind. 3. **Scenario 2: Bearish Outlook (H4 candle closes below 2915)**: - If the **H4 candle closes below 2915**, this could indicate a bearish move. - **Target Zones**: The market might target **2900** to **2880** as the next support levels. In this case, short positions might be considered, with these targets providing potential profit zones. ### Summary: - **Bullish Scenario**: Close above 2920 → Targets: 2940 to 2960. - **Bearish Scenario**: Close below 2915 → Targets: 2900 to 2880. This analysis is based on the price action between 2915 to 2920 and will depend on the H4 candle's closure. Keep an eye on these levels for confirmation of the trend direction.
Brothers, I have clearly reminded you in the above two article updates that I am very optimistic about gold's retreat to the 2905-2895 area. In the short term, gold has shown signs of retreat after touching the area near 2922 several times, and formed a distinct long upper shadow in the candle chart, further strengthening the effectiveness of the resistance area 2925-2935 area, further stimulating the willingness of gold to fall. In the short term, I think gold still has the opportunity to retreat to the 2905-2895 area again. I am still patiently holding my short position and looking forward to further declines in gold, which will bring us rich profits. Bro, do you have the courage to short gold with me?Trading means that everything has results and everything has feedback. I have been committed to market trading and trading strategy sharing, striving to improve the winning rate of trading and maximize profits. If you want to copy trading signals to make a profit, or master independent trading skills and thinking, you can follow the channel at the bottom of the article to copy trading strategies and signals
There's Horizontal Resistance And Trendline Resistance At 1D It's Pumped A Lot Now it's time to take correction but don't completely rely fully on last tp you can book profits in parts
Key Indicators On Trade Set Up In General 1. Push Set Up 2. Range Set up 3. Break & Retest Set Up Notes On Session # Sanmina Corp Stock Quote - Double Formation * (Diagonal) | Completed Survey & Entry Bias * Inverted Pattern On Long Bias Entry | Subdivision 1 - Triple Formation * (Uptrend Argument)) At 63.00 USD | Subdivision 2 * ((No Trade)) | Invalid Execution On Trade Entry | Subdivision 3 * Daily Time Frame | Trend Settings Condition - (Hypothesis On Entry Bias)) | Indexed To 100 - Position On A 1.5RR * Stop Loss At 159.00 USD * Entry At 187.00 USD * Take Profit At 228.00 USD * (Uptrend Argument)) & Pattern Confirmation * Ongoing Entry & (Neutral Area)) Active Sessions On Relevant Range & Elemented Probabilities; European-Session(Upwards) - East Coast-Session(Downwards) - Asian-Session(Ranging) Conclusion | Trade Plan Execution & Risk Management On Demand; Overall Consensus | Buy
Silver has been consolidating near its February 2021 highs for 8 months. Multiple patterns occurred within this range but most failed (see previous posts). A breakout of a symmetrical triangle appears to be occurring tomorrow, 3/12. A small position was initiated today, and a daily close above 30.30 would be the spot to add more. Price objectives include 31.4 and 32.62 CSE:SI AMEX:SLV
rose for the third straight day, this time reaching five-month highs well north of 1.0900 the figure, bolstered by hopes of a deal around Germany’s spending plans and the heightened weakness around the Greenback. EUR/USD: A move to 1.1000 in the offing? OR move to downward side
As you can see, due to recent economic news and Trump's economic approaches, we have unfortunately witnessed a decline in major indices, including the Dow Jones. We are currently at the last available support level, which is the bottom of the Dow Jones long-term channel, and we need to see how it reacts to this level in tomorrow's news and the CPI release.
What if $76.700 was the local bottom? Thats the analysis.
This 15-minute GBP/USD shows a rising wedge pattern with a breakdown in progress. The price has rejected the upper resistance trendline and is now testing the support area around 1.29340. A bearish outlook is indicated, with a projected drop towards lower support near 1.28955. If support fails, further downside is possible. Traders should watch for confirmation before entering short positions. 1. Rising Wedge Pattern Breakdown The chart shows a classic rising wedge pattern, which is a bearish reversal formation. The price has recently broken below the lower trendline of the wedge, indicating a potential downward move. 2. Key Levels to Watch Resistance: The upper boundary of the wedge acted as resistance, leading to multiple rejections before the breakdown. Immediate Support (1.29340): The price is currently testing this level, which is a key short-term support zone. A break below this could confirm further downside. Next Support Target (~1.28955): If the price moves below 1.29340, the next significant support level is around 1.28955, which could be the next bearish target. 3. Possible Scenarios Bearish Case: If the price sustains below 1.29340, we may see a continuation toward the 1.28955 level. A break below this could accelerate selling pressure. Bullish Case: If the price rebounds from 1.29340 and reclaims 1.29474, it could invalidate the breakdown and push towards the previous highs. 4. Trading Considerations Confirmation Needed: Traders should look for confirmation (such as a strong bearish candle below support) before shorting. Risk Management: Setting stop-loss orders above 1.29474 for shorts and below 1.29340 for longs can help manage risks. Conclusion The bias leans bearish due to the rising wedge breakdown. A confirmed break below 1.29340 could lead to further downside, while a recovery above resistance might invalidate the setup. Traders should monitor price action closely before making decisions.