IvanLabrie

USDARS: Update - 2 weeks to define the trend

FX_IDC:USDARS   US DOLLAR / ARGENTINE PESO
8 months ago
The USDARS             pair has an interesting setup, on one hand, the uptrend that started after monetary policy changed, has failed to reach the target on time, suggesting a selloff was possible (which did in fact materialize).
I have reccomended my fellow countrymen to sell their dollars at the 15.8-15.4 mark, but it's time to pay attention to go long the dollar again, possibly, unless the downtrend is confirmed in 2 weeks or less.

If you have peso savings, wait fo             a good chance to convert them to dollars, if you're still in dollars and haven't sold, well, you should have paid more attention to my forecast #1, #2, don't panic, you might get a good opportunity to unload your dollars higher soon, or more reasons to hold them too.
For people actually trading this pair electronically, I'd reccomend using ATR based stops, and/or no leverage, since volatility can be quite extreme.

Cheers,

Ivan Labrie.
8 months ago
Comment: We should see downtrend continuation in this pair for now.
8 months ago
Comment: 19:00 GMT, Argentinian GDP news.
8 months ago
Comment: We have to hit 14.15 this week before the close to stay in shorts.
7 months ago
Trade closed manually: Covered usdars shorts.
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