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Has The Mexican Peso Bottomed ?


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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

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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