Though it is still early, the USD doesn't quite seem prepared for a rally. The USDMXN pair seems to agree with rudimentary signs of a sweet bearish move. Price is currently at a strong resistance stronghold. The Weekly chart shows this critical zone very clearly. Additionally, the 50 MA is hovering right over price looking at the daily. Since entering the position an hour ago, I've already caught roughly 50+ pips. This could be a swing of a lifetime. If you don't believe me, checkout the pip count on my chart. Enjoy to all of my sellers!
Hello, very nice work. Do you still think it will continue to the downside?
jgardere
⋅
@JeanPierreDaherRodriguez, Due to the dollars bullish fundamentals after NFP, I can see a continued bullish pull back before it continues to the downside. If you entered in the trade near the 50 level of the fib, you should be fine in holding long term.