Looking for an 8% decline on USD/MXN
After an impulsive move up on the USDMXN, I'm looking for a (relatively) modest retrace to the top of the previous range on the USD/MXN. This is an 8% decline. But as you can see on the chart, the decline is modest relative to the move up we just had.
> This retrace I'm looking for is in confluence with general dollar weakness following a 6T liquidity stimulus, an inflationary event, which the FED just pumped into the credit/repo market.
> This retrace I'm looking for is in confluence with general dollar weakness following a 6T liquidity stimulus, an inflationary event, which the FED just pumped into the credit/repo market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.