BUY USD/MXN 1W TIME FRAME (BUY HOLD).
Updated
Placing a buy position on USD/MXN
Due to rises in COVID cases and new strains of COVID weighing in on Mexican PESO.
The Mexican Peso remains vulnerable to a risk-off move, meaning the US Dollar will be picking up safe haven momentum. If this occurs, I would look for a break above 20.50 to start considering price reversal, with a close above the 21.00 line as a confirmation of short-term bullish bias.
Risk/Reward
Please send comment with feedback.
#BLESSESPIPS
Due to rises in COVID cases and new strains of COVID weighing in on Mexican PESO.
The Mexican Peso remains vulnerable to a risk-off move, meaning the US Dollar will be picking up safe haven momentum. If this occurs, I would look for a break above 20.50 to start considering price reversal, with a close above the 21.00 line as a confirmation of short-term bullish bias.
Risk/Reward
Please send comment with feedback.
#BLESSESPIPS
Comment
USDMXN is playing out just as planned. Currently +3500 pips in profit. Ride the trend.
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