Monday, March 02, 2009

Mexican Peso Update



A couple of weeks ago I posted my reasons as to why I was bearish on the Mexican Peso. If you look at the above chart you'll see that the Peso is now beginning to collapse. My reasons for being bearish were based on one of my favorite charting patterns which you can read about by clicking here.

4 comments:

market folly said...

good stuff as always kevin. wondered your take on the euro/FXE here. Europe's banking system has some big problems ahead and eastern europe is teetering on the edge. Think it could be a nice short here should it fall through support.

Kevin said...

I agree. I'm looking for the Euro and Swiss Franc to fall through support.

Alan & Beth McManus said...

as an American working in Mexico and exchanging dollars for peso a few times a month...this has increased my salary (in dollars) a ton since last summer. Wow! Keep posting on this, especially if you see a change in trend here. I suppose it's pretty much inverse of the dollar's strength to a large degree. the war here is not helping the peso either. tourism is definitely affected by the war while the strong dollar should have been an attraction for tourism. oil prices are not helping either. lots of issues and more than I'm sure I know about.

Anonymous said...

looks like all currencies are falling including the british pound and the canadian dollar.the BP has fallen out of a symm triangle already and i'm a little jittery about getting caught in a pullback.any idea when it could be a good time to short it.

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