As we zoom out and look closely at the Mexican Peso, we see many signs of strength that have been building for some time now. I believe the MXN and many other emerging currencies are all showing similar signs of strength and in the process of a reversal. While this may provide a great long trade and a short-term boost to the Peso, I fear it will have long-term...
The Peso experienced a long period of depreciation. It's time to welcome Joe biden, liberate the MXN and support exports.
I draw your attention to this wonderful buying signal.
The golden point in all its majesty !
You can see the down green holizontal line, that is the strong and valid support rejection. This means the market hardly closes this line and when it does, you sell only within red prtion or rectangle. only when the bearish candle breaks the line. If the next candle is bullish, do buy within the green rectangle or portion.
The Mexican Peso is now trading above the US Presidential Election key resistance level. Price could soar from here, we can enter longs and add on dips, or average in during a few days to a month. Returns are over 10% at the very least, in the coming 2-3 months.
Negativity against the Peso kept many traders skeptical of this rally, all the way up. This is usually...
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
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Best regards :)