For the 1st time im noticing the peso is following the S&P500, far as the Peso goes it had 16 weeks of commercial market shorting the currency.
we may be holding this trade for another week or two.
Mexican Peso, 16 weeks of short positions compiled for the Peso. This data was gathered by the use of the COT report
even with economic growth alongside interest rates which is a positive for the peso. I do believe in the short term peso is over extended.
Interesting price rejection after CPI numbers came out, Peso has not been this high since 2016, 2017. major commercial and non commercial contracts are loading up on the Sell side, price action must confirm.
CME: USD/Mexican Peso ( CME:6M1! )
What’s the strongest currency in 2023? Hint: Not the US dollar.
• Although dollar index has rallied nearly 6% in the past two months, it gained just 2.1 points, or +1.9%, year-to-date, to settle at 105.583 as of September 22, 2023.
• British Pound futures ( SEED_TVCODER77_ETHBTCDATA:6B ) was up 2.0% YTD, to close at $1.225 per...
Technically and fundamentally, the fall of USDMXN is expected
1) Futures volume remains high (for MXNUSD futures )
2) Large speculators close short and open long (for MXNUSD futures )
3) Open interest grow (for MXNUSD futures )
4) Fibo level 0.382 from wave 3 almost reached
5) Need one wave down for USDMXN
Hello my friends
the analysis of this market shows that there is a very high probability that in the coming days will experience an uptrend for more information please contact me on
youssef.lyazidi5@gmail.com
Market Structure:
- 6M has been in consolidation since late of March, and currently it is forming Ascending Triangle pattern in low and high Timeframe
- Ascending Triangle with higher Lows and same Highs at 0.0421, which is bullish pattern
- 6M has plunge 28.6% from the High, with now trading at record Low in history
Strategy:
- Enter Long at first pullback when...
Herein is the monthly chart of the /6M Futures contract. It has been noted that since it has been traded, it is pretty obvious that the bears have been in control. At this time, I am far from debating against it. What I am exploring is a technical analyses of the next upcoming crash and an a mild guess of when that might happen.
I want to bring your attention to...
The elliot count looks like it's in the C of the ABC of the 4 wave and has one more 5th wave to on on the larger cycle.
It's stuck on a long term POC area right now and after this choppy correction it could end up going quite a bit higher to the fib extension.
No real trade yet once it looks like the 4 wave is completed with an obvious long bar to the downside...
Trading Signal
Short Position (EP) : 0.05200
Stop Loss (SL) : 0.05222
Take Profit (TP) : 0.05095
Description
M6H2019 formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (0.052) and place stop after 0.618 level (0.05222). Once the position was hit, place take profit before an agreement (0.05095)
Money Management
Money in...
