A short trade on USD/MXN pair initiated today. The trade is a long term position, which have the characteristics of carry trade (giving interest of about 4.5% y/y for keeping it) and very favorable risk reward of 1.51.
Mexico’s peso slump leaves currency experts unnerved as Trump uncertainty takes hold. A further fall in the price of the Mexican peso Thursday has left market participants cautious on where the currency could be heading next, with new policy announcements by the Trump administration adding to a high level of political uncertainty. "We see MXN (the Mexican peso) at...
We are looking for this pair to break through and create a HH and go to 21.30000 area this could be multi day trade
Cycle is looking complete so a BUY order at around 19.97600 break should secure your long position on the up trend nice and early... Lots of pips to be had on this impulsive 5 wave up move... 3 orders will be placed to maximize profits...
Well, what do we have here? I'm seeing a 4-hour-chart based uptrend already broken, this pair is going down I think, but first it has to re-test that trendline, let's see what happens. Any comments?
Well, what do we have here? I'm seeing a 4-hour-chart based uptrend already broken, this pair is going down I think, but first it has to re-test that trendline, let's see what happens. Any comments? PS: I'm really ashamed, I used the word 'breaked' instead 'broke' hahaha my bad.
USDMXN broke the Daily support in 18/18.2 area. I setup a trade with an EP at 18.04 SL at 18.2 TP at 17.65
A short side breakout will be a sharp drop; long side will be a slow grind higher. Range is tightening as shown by the clumping moving averages.