USDMXN: Trump talked the pair down, but for how long?

٢٦ يناير ٢٠١٧

I'm bullish on this pair, and the dollar overall, in the longer term, but right now, we're seeing a correction in this trend. Within the next 2-3 days we can get a signal to reenter longs in this pair, so keep an eye on it. Support below is significantly strong, so it wouldn't surprise me that we bottom very soon, and see a sharp continuation of the initial 'Trump induced' uptrend in this pair.

The situation in Mexico is deteriorating, and with oil potentially declining, among other factors, it would be logical to see more weakness soon.
Keep an eye on it, we'll pick it up after the bottom's confirmed, it won't take long with some luck, else we'll have to rethink our FX strategy and fundamental and technical bias.

Cheers,

Ivan Labrie.

٢٦ يناير ٢٠١٧

ملاحظة

After today's close, we have a confirmed long entry with very low risk.

٢٧ يناير ٢٠١٧

ملاحظة

I bought at today's close, up nicely, closed half already for a 0.2% profit.

٢٧ يناير ٢٠١٧

ملاحظة

*yesterday's

21.2376

٢٧ يناير ٢٠١٧

تم فتح الصفقة

٢٧ يناير ٢٠١٧

ملاحظة

1 year linear regression shows a very clear uptrend, we bottomed close to the linear regression line on this dip.

٢٧ يناير ٢٠١٧

أغلقت الصفقة: تم الوصول لوقف الخسارة

I will have to reconsider, or wait. Stop hit for now.