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Mexican Peso Hits 2 Week Low


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Mexican Peso Futures---The Mexican Peso in the December contract has finally shown some volatility to the downside currently trading lower by 30 points at 5161 near a 2 week low as I think now prices will retest the October 27th low of 5127 & if that level is broken I will be recommending to add another short position.

I have been recommending a bearish position in the Peso for almost 2 months with an average price on 2 contracts around 5330 and if you took that trade continue to place the stop loss at the 10 day high which now has been lowered to 5230 as the chart structure is outstanding at the present time as that is the main reason to add another contract to the short side if support is broken as the risk/reward will be in your favor in my opinion.

The Peso is still trading below its 20 and 100 day moving average telling you the trend is to the downside as prices are lower for the 2nd consecutive session as I am also keeping a close eye on a possible short position in the U.S dollar which was down almost 40 points in early trade, but now basically is unchanged as we could be involved in a bearish position possibly in next weeks trade as both of these commodities can go in the same direction.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY---LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 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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