Mexican Peso Futures---The Mexican Peso futures in the December contract settled last Friday at 5185 while currently trading at 5211 up about 26 points for the trading week still experiencing extremely nonvolatile trading action as I have been recommending 2 positions over a couple months with an average price around 5330 & if you took the trade continue to place the stop loss at the 10 day high standing at 5238 which is just an eyelash away.
For the bullish momentum to continue we still have to break the October 27th low of 5127 which seems like a mile away at this time due to the low volatility as now the Peso is trading above its 20 day but still below their 100 day moving average telling you that the trend is mixed, however I will continue to place the proper stop loss & if we are clipped I will move on & look at other markets that are beginning to trend.
The U.S dollar is still at a 3 month high as many of the currencies have been going sideways in recent weeks including the Peso as we are heading into the holiday markets which generally keeps a lid on prices across the board unless some type of economic situation develops.
TREND: --LOWER---MIXED
CHART STRUCTURE: ---EXCELLENT
VOLATILITY: LOW
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