Mexican peso chart update 30-1

The long term ascending channel is still alive for the USD but, as our call last Monday warned, corrections do exist. Remember last one in November was almost a joke (thanks Donald).

 

The expected brake of 21.20 area took the peso to 2/3 correction area of former December/January rally (that is 20.80-20.90).

 

Peso momentum is still strong but watch chart support around here for the USD. It is extremely oversold and Mr Trump is still around. 

Not sure if the USD is a buy here, but in any case risk reward looks tempting.

 

WEEKLY CHART: Displaying image001.png

 

 

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