Buy mexican Peso 11.50 - 11.70

C

chafro

Mexicos presidential elections are this sunday, the dollar has won about 9% vs peso in the last 6 months, people is scared, because of our history in past elections. But this time fundamentals are way way better than any time, and they are way, way better than those of the US. We have no commercial deficit, the oil prices are high and stable (we have tons of it most of it goes to the US), our interest rates are still very attractive, solid reserves and increasing big time. We expect the USD/MXN to reach 11.55 - 11.65 (but hopping for pike´s to come and maybe get 11.75 - 11.80) this weak and when the elections are over and investors see nothing happened, the peso will win terrain so fast that you wont catch it. We are all long in dollars since January and waiting for thursday, friday or sunday to switch sides, and stay there 3 to 6 months, win some interests and hope we reach the 10.40´s again. Its gonna be very volatile, so dont take short stops because you will probably reach them.

I expect commission from those who follow advise. :)

Good Luck
 
Update: President conservative Calderon won the election wich is very good for the peso, the peso rallied from 11.50 to 11.04 in 2 days. But the leftist is making alot of mess because he thinks he was cheated and wants a vote recount wich is happening from today till friday. Calderon is still going to win after the recount and the peso is going to 10.80 - 10.90 the day the official desicion is made. But these days of wait can make the peso reach 11.25 - 11.30 wich is another great opportunity to short de usd/mxn. PD. Shorting the usd/mxn gives 5 daily interes pips. I recommend to short the USD and let it ride 3 to 6 months.

GOOD LUCK
 
Another chance to short the USD/MXN at this levels 11.00 - 11.05 and hold till monday - tuesday of next week. Taxes are payed friday and monday and alot of corporates are going to sell their dollars to pay. Most of them have their cash in USD because of the past elections. Looking for 10.90, if broke we can see low 10.80´s fast. Noone else trading pesos? GOOD LUCK.
 
Quote from criveratrading:

we've completed a demark 9 day buy countdown on the peso. long dollars here.
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GOOD LUCK, using those pretty graphs. Technical analisis is not a good idea in this pair right now becasue of the political issues. Fundamentals is moving this pair in the near term.
 
Quote from criveratrading:

how do you like those pretty graphs now. mex peso longs choking today. see u at 11.2
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Sorry but short is the way you losing value and paying interest.

Today took profit from my short at 11.05 at 10.98.

Looking to reach 11.04 - 11.06 that we should reach because of the political news we going to see this week and going short again. Oil, gold, copper, silver, BIG Commercial superavit with the US!!!!!, everyone already in dollars becasue of the past elections, doesnt look good for your long. Regards
 
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