Price dropped through daily iMTF line at $1.0600, the WaveTrend oscillator showing a decrease (with room to drop), and last several candlesticks are leaving upper tails showing the bears are winning the battle. Target at $1.0400.
Tentatively watching for any FOMC changes as the US market is heating up and the fed may raise rates to balance the shift.
QCOM entrance at $53.4 with a stop at $51.80 and target of $62.81 provides a reward:risk ratio of 5.88 or 17.6% ROI. The large gap down provides a great opportunity since price almost always goes back to close the gap.
Turn at the bottom of WaveTrend Oscillator and price piercing up through iMTF. Stop is 20 pips below iMTF with target at next iMTF with reward/risk ratio of 5.27.
After the move downward from Friday's NonFarm Payrolls and Unemployment data the expectation was for the USDMXN to move up. Stop was moved down to $20.50 to lock-in profits. Got stopped out this morning during a bounce. Dead cat bounce? The price will tell.
Moved Stop down to $20.700 to lock in a profit for possible volatility in the US NonFarm Payrolls and Unemployment rate at 5:30 (PST). Be prepared for a spike up if news is very positive for USD.
