THE MEXICAN PESO PROVIDES ANOTHER OPPORTUNITY FOR LONG POSITIONS
Last week we saw the the commercials added 8,401 contracts short and reduced about 2551 long positions Change leaving them with total Open Interest of 199,268.the net change in open interest is +11,330 hence we have seen the USDMXN lower this week with 3 consecutive down
consecutive down closes pushing it to the support level 19.40-19-50 area THE MAIN scenario is; should the support level hold for two consecutive days and should the commercials ADD MORE positions on the MEXICAN PESO FUTURES CONTRACT SHORT THIS WEEK ,We Likely going to see the the USDMXN resume the up trend(LONG) to the 20.0000-20.2000 Figure.
consecutive down closes pushing it to the support level 19.40-19-50 area THE MAIN scenario is; should the support level hold for two consecutive days and should the commercials ADD MORE positions on the MEXICAN PESO FUTURES CONTRACT SHORT THIS WEEK ,We Likely going to see the the USDMXN resume the up trend(LONG) to the 20.0000-20.2000 Figure.