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USDMXN

(Last Updated February 24, 2021)

Welcome to the news page for USDMXN (USDMXN). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:

Forex Calendar for USDMXN

metric_name reference_period asset_name asset_id date time forecast outcome
Mexico Mid-month Core Inflation Rate MoM Feb 2021 Mexican Peso MXN 2021-02-24 12:00 GMT 0.25% 0.22%
Mexico Mid-month Inflation Rate YoY Feb 2021 Mexican Peso MXN 2021-02-24 12:00 GMT 3.88% 3.84%
Mexico Mid-month Inflation Rate MoM Feb 2021 Mexican Peso MXN 2021-02-24 12:00 GMT 0.27% 0.23%
United States New Home Sales MoM Jan 2021 US Dollar USD 2021-02-24 15:00 GMT 2.1%
United States New Home Sales Jan 2021 US Dollar USD 2021-02-24 15:00 GMT 0.855M

The Trend

A trend/countertrend situation exists on USDMXN, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

USDMXN Moving Averages

Nuances in the trend on USDMXN can be understood by observing the behavior of its moving averages. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. This implies that the long-term trend — meaning going back over 3 months — is bearish, while the trend over the past month and a half is bullish.

Below is a chart showing USDMXN’s price with its moving averages.

In terms of correlations over the past week for USDMXN, it has demonstrated the strongest correlation with EURNOK. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDMXN is EURCHF. Alternatively, USDZAR has been the asset least correlated with USDMXN — just the same as it has been over the past two weeks. See the chart below to observe the recent price action in USDMXN versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

At the time of this writing, USDMXN’s rate is up 739 pips (0.36%) from the week prior. Moreover, note that this is the 2nd straight week USDMXN has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows USDMXN’s price action over the past year.

USDMXN: The Monthly View

Strongest trend on the 120 month timeframe.

USD/MXN Up 92 Pips Over Past Hour, Came Into Today Down For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

Categories Forex News Tags USDMXN
February 25, 2021

As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.

USDMXN Up 461 Pips On Hourly Chart, Entered Today Down For the 2nd Day In A Row; Eyes 100 Day Average

Categories Forex News Tags USDMXN
February 25, 2021February 24, 2021

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up.

USDMXN Down 5 Pips On Hourly Chart, Underperforms All Forex; 6 Day Up Streak Ended

Categories Forex News Tags USDMXN
February 25, 2021February 23, 2021

Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.

USDMXN Up 82 Pips On Hourly Chart, Outperforms All Forex; Came Into Today Up For the 6th Straight Day

Categories Forex News Tags USDMXN
February 24, 2021February 22, 2021

If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.

USDMXN Down 292 Pips On Hourly Chart, Moves Up For the 5th Straight Day; Crosses 100 Day Moving Average

Categories Forex News Tags USDMXN
February 22, 2021February 19, 2021

Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.

USDMXN Up 56 Pips Over Past Hour, Entered Today Up For the 4th Day In A Row; is Inching Close to 100 Day Average

Categories Forex News Tags USDMXN
February 19, 2021February 18, 2021

The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.

USDMXN Up 43 Pips in Last Hour, Entered Today Up For the 3rd Consecutive Day; is Inching Close to 20 Day Average

Categories Forex News Tags USDMXN
February 19, 2021February 17, 2021

Price action traders may also wish to note that we see a doji candlestick pattern on usdmxn.

USDMXN Down 100 Pips On Hourly Chart, Entered Today Up For the 2nd Day In A Row; Crosses 20 and 50 Day Moving Averages

Categories Forex News Tags USDMXN
February 17, 2021February 16, 2021

Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.

USDMXN Up 73 Pips in Last Hour, 4 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart

Categories Forex News Tags USDMXN
February 16, 2021February 15, 2021

Or to simplify this another way, note that out of the past 14 days usdmxn’s price has gone down 8 them.

USDMXN Up 16 Pips Over Past Hour, Moves Down For the 4th Day In A Row; in a Downtrend Over Past 90 Days

Categories Forex News Tags USDMXN
February 15, 2021February 12, 2021

The closest is the 50 day average, which is 317.8 pips away.

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