I Am Bullish The Mexican Peso

Mexican Peso Futures---The Mexican Peso in the June contract is hovering right near a 5 month high as I will be recommending a bullish position if prices crack 5321 while then placing the stop loss at 5182 as the risk would be around $700 per contract plus slippage and commission as I think the bullish momentum will continue to the upside.

The Peso is now trading above its 20 and 100 day moving average as the trend is higher as we have been stuck in a 7 week consolidation as I think prices are ripe for a breakout to the upside. The U.S dollar is still right near a 3 year low as the Peso can be dictated by oil prices as that country is a major exporter of that commodity as higher oil prices means a higher Peso while just the opposite if oil sells off as the risk/reward are in your favor in my opinion as I've not talked about this currency for quite some time.

The chart structure is outstanding currently therefore the monetary risk is relatively low as the Peso is experiencing very low volatility at this time, however historically speaking this currency can have tremendous swings so play this to the upside while risking 2% of your account balance on any given trade as the proper money management technique.




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