- 200 moving A, making the support (USDMXN)
- Weak oil prices, going maybe to 46.50
- Breaking the yellow box plus the 100 moving A, (Yellow mA) is a GO LONG
- Looking those indicators we are expecting to go long to touch 19.000
Pressure for the Mexican Peso its not over, until the US elections, the Mexican government attacking debt, and the FED raising rates at December meeting doesn't look going down until DECEMBER-JANUARY 2017 maybe to 18.7000 but for now this is a quick trade.
I think about the USDMXN long for the long term, hoping to correct a little more to the down side but right now im just watching to enter the market at the lowest point to grab a long position.. stay tuned.
Thing to watch
- US presidential campaign news this week
- Economic data from Mexico
- International Crude ...
The down movement is at the first started by Central Bank of Mexico auctions of cheap USD, to calm the forex markets, then they realize that the automated auctions guided by a systems of rules, it was making the market more volatile, they said because the automated robots using algorithms, then the raise of ...
From a technical basis, the down trend has not be able to brake the support level three times now, the resistance only tested once but we are probably near a second test, so great to se how it develop these days, if it fails to break the resistance you know what to do..