USDMXN - Head and Shoulders to Yearly Pivot and Lower?
The super exotic currencies are difficult to trade for most retail traders with insane volatility levels. But structurally, I see a nice H&S pattern emerging on the USDMXN. With this week's FED meeting and statement, there may be enough technical divergence to see a USD retracement across all currencies and this could be a BIG opportunity. I'm looking to sell below the neckline or safely on a bearish formation on the right shoulder and target this year's pivot at 14.2000 or 14.0000 even.
