Peso Mexicano Update 21-3

DIFFICULT TO SAY IF IT MAKES A LOT OF SENSE AS MOMENTUM IN PESO FAVOR IS FAR FROM WEAKENING AT THIS MOMENT.
BUT WE ALWAYS PUT 18.80/18.90 AREA AS THE MAIN TARGET FOR THE RECENT USD FALL.
AN INTERESTING FIBO TARGET + THE TRENDLINE POINT FOR THE LONG TERM US DOLLAR RALLY LOOK TOO LITTLE TO BUY A COUNTERTREND RALLY IN THE DOLLAR. BUT RISK REWARD RATIO IS MORE THAN TEMPTING.
AS WE USUALLY DO, WE WILL KEEP OUR ORIGINAL IDEA AND SO WE ARE STARTING A “BOLD” LONG USD POSITION WITH A VERY SHORT STOP LOSS BELOW 18.65. NOT SO BOLD IN THE END.
LET´S SEE.
Alfredo Peso 21-3
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