I Am Bearish The Mexican Peso

Mexican Peso---The Mexican Peso in the December contract is trading lower for the 2nd consecutive session down 12 points at 5145 as I am now recommending a bearish position while placing the stop loss above the October 28th high of 5219 as the risk is around $375 per contract plus slippage and commission.

The chart structure at the present time is outstanding therefor the risk / reward is in your favor, however for the bearish momentum to continue prices have to break the November 13th low of 5095 in my opinion as it looks to me that prices have topped out. Volatility at the current time is extremely low, but I don't think that situation is going to last much longer.

Prices are now trading under their 20 but still above their 100 day moving average as the short term trend is to the downside as prices are near a 5 week low.

TREND: LOWER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.