USDMXN - Peso - Which way?!
The EM currencies aren't moving as much considering the major pairs are...that's an interesting thought to keep in mind!
If you're looking for good risk reward trade, i'd go to EM currencies - Major pairs are little over extended. However, for those swing traders PESO looking clean...which way will it break. Will we carry on the pattern of descending channel? Will we reach the retracement Fibonacci 161.8 target? OR will we head higher out of channel and go towards the resistance areas?
Add alerts or orders for whichever direction you feel its breaking out to. Remember, we've had a lot of dollar weakness.
This is just a trade idea, not a recommendation.
If you're looking for good risk reward trade, i'd go to EM currencies - Major pairs are little over extended. However, for those swing traders PESO looking clean...which way will it break. Will we carry on the pattern of descending channel? Will we reach the retracement Fibonacci 161.8 target? OR will we head higher out of channel and go towards the resistance areas?
Add alerts or orders for whichever direction you feel its breaking out to. Remember, we've had a lot of dollar weakness.
This is just a trade idea, not a recommendation.
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