EvanJones

Peso: Looking for an end of week trade

FX:USDMXN   U.S. Dollar / Mexican Peso
21 0 0
The USDMXN             is an age old favorite of mine to trade. It behaves technically and is linked to the US Dollar             and oil             .

My thoughts are that US Dollar             will weaken on recent economic data to the 96 price region and with oil             gaining some strength this will aid the Mexican peso to strengthen slightly. With this in mind, my anticipation will be to short the break of the lower trend line to either the missed weekly pivot in the 17.7 region or the 38.2% fib level.

For more analysis and useful info, I will be launching my main site in the early part of this year, however please visit and sign up to get hold of this exciting launch! http://www.ejfxtrading.com
Comment: Should of stated:

1.) Was my original trade from the H&S pattern, this partly worked and booked partial profits
2.) Is my option that I'm looking to trade and will wait till tomorrow (29/01/160 to see if this works)
3.) If dollar strengthens and Oil goes lower, this will be my alternative trade on the break of the upper trendline
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