USDMXN LONG

Jul 7, 2014

USDMXN made a thrust bar ON FRIDAY (outside day, range >= 20 day ATR, touches 20 DMA or Bollinger Bands), which provides a reference point to enter the market and establish risk. Friday’s low is just above daily reversal support (6/6 close). We were long in early June and it’s time to return to the position. It’s possible that an inverse h&s is forming from the 4/8 low that launches a significant swing.

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