Based on weekly chart, it's also possible that USDMXN will go bearish first down to 20 in the next few weeks. But with the Fed hawkish on USD and likelihood of another interest rate this year and anticipation on economic growth, USDMXN can bounce up again and go bullish in the long-run.
But if I get a bullish price action within this week, I'll be setting up a buy stop order with TP near 22 and SL near the current daily support (yellow line).
www.marketwatch.com/...residency-2017-01-20
www.nasdaq.com/artic...trade-notes-cm736304
D:
W:
But if I get a bullish price action within this week, I'll be setting up a buy stop order with TP near 22 and SL near the current daily support (yellow line).
www.marketwatch.com/...residency-2017-01-20
www.nasdaq.com/artic...trade-notes-cm736304
D:
W:
Comment:
Entered a buy stop order now @21.66732. Closely monitoring for any consolidation and drop to 20 or bounce up to 22.
Order cancelled:
Closed my buy stop order because USDMXN dropped overnight. Will wait for price to go near 20 and another bullish price action for better buy position.
