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USDMXN

Exotic Drawback Setup: USD/MXN ShortWe're going exotic for this one! I am looking for a drawback setup here and I've drawn my entry at a break of previous price structure support. My overall target will be the flat Kijun sen that is forming, and I've marked up some price structure to targets to aim for as well. Since this is only slightly more than a 2x risk to reward, I'll be taking a smaller risk trade for this one. If we fail to break support, this setup will become invalidated.
Short
by The808Trader
USD/MXN will recover in the following daysThe pair will recover in the following days after a series of decline in the value of the US dollar. The US House of Senate finally passes the ratified NAFTA (North American Free Trade Agreement) last January 16. This will leave President Donald Trump the only person to either pass or veto the bill. Once approved, leaders of Canada and Mexico will still need to sign the deal before it will take effect. If rejected, the US Congress will need to ratify the deal once again. Despite this optimism, Mexico is having problem on its economy. The country recently fell from the list of ten (10) most attractive countries for investment. The United States was still leading the pact while China comes second. The report for the list cited policy uncertainty and trade conflict as the reason for the removal of Mexico from the top ten (10). Meanwhile, the United States continues to hit records for its indices following the signing of the US-China phase one trade deal.
by Financebroker