Another typical procedure can be seen here, the combined advance by buyers cannot be prevented in the long run. This advanced would (and now we are seeing....) lay bare the base on the strong support at 18.9x. Much worse for Sellers, the attack on the highs involves 22.9/23.0 as a main target. For the strategy, the correct plan now consists of holding and adding as sellers continue to flee.
As well as USDMXN, we have also spoken about BRLMXN several times, we must not forget the following swing of the year. The imprisoned MXN is in a difficult position and lacks protection from BDM. Pips are for pipsqueaks, macro currency swings for a +58% can be played in many different ways.
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interesting ... have we got a test of 19.5x unfolding?