dead2live

Peso and Dollar Tap Dance

FX:USDMXN   U.S. Dollar / Mexican Peso
Peso has been Trumped by "Build the Wall". Mexico has conceded to work with US on Border "issues". Mexico lost Ford mfg             to US because of Trump agenda and probably will lose more. Mexico hopes to arrange decent trade to counter effect.

Mexico Central Bank sold off dollars to stymie skid.

Meanwhile, speculators know that the Peso is squat.

I think the Peso is squat. Technically, the Peso is squat. Technically, we are due for a retrace and the classic Triple Tap Price Action may conclude. I look for a potential reversal from it when RSI is Your Friend.

Note: I mostly go long and buy breakouts on this pair, because your True Best Friend Is The Trend (and the Peso is still squat).

Comment: Update: Mexico is probably still selling dollars.
http://www.petroleumworld.com/story17010909.htm

Unrest over high gas prices continues:
http://www.nytimes.com/2017/01/08/world/americas/unrest-mexico-pena-nieto-gas-prices-trump.html
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