
Mexican Peso—The Mexican Peso in the June contract is trading higher by 38 points at 4944 as prices are hovering right near a 3 month high continuing it’s bullish momentum. I am now recommending a bullish trade while placing the stop-loss under the March 8th low of 4575 as the risk is around $1,800 per contract plus slippage and commission as I do believe the U.S dollar has topped out in the short-term.
Historically speaking the Peso remains depressed as this currency traded much higher 10 years ago from today’s price level as I will be looking at adding more contracts to the upside and if this trade turns into a winner I will plan on adding more contracts as adding to winning trades and exiting losers is the way to go over the course of time in my opinion
TREND: HIGHER
CHART STRUCTURE: IMPROVING
VOLATILITY: AVERAGE
If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com
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Email: mseery@seeryfutures.com
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