USD/MXN Up 41 Pips Over Past Hour, Entered Today Up For the 2nd Day In A Row; Eyes 20 Day Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
USDMXN
(Last Updated April 15, 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 |
|---|---|---|---|---|---|---|---|
| United States Philadelphia Fed Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 42 | 50.2 |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
| United States Retail Sales Ex Autos MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5% | 8.4% |
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
The Trend
As for trends on USDMXN, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
USDMXN Moving Averages
USDMXN’s moving averages suggest the trend on a number of time horizons is bearish. Moreover, today we saw the 100 moving average turn bearish.
The chart below illustrates.
As for assets in the Forex asset class USDMXN has been correlated to over the past week, it has been most correlated with GBPJPY. Over the past 14 days, however, USDZAR is the asset most correlated to USDMXN. On the flip side, ZARJPY has been the asset least correlated with USDMXN — but over the past two weeks, AUDCAD has been the asset least correlated with USDMXN. The chart below illustrates USDMXN against its least correlated assets.
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The View From the Weekly Timeframe
At the time of this writing, USDMXN’s rate is down -698 pips (-0.35%) from the week prior. It’s been a feast for bears operating on the weekly timeframe, as USDMXN has now gone down 4 of the past 5 weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up 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. USDMXN’s weekly price action over the past 52 weeks can be seen via the chart below.
USDMXN: The Monthly View
Clearest trend on the monthly is apparent at the 120 month timeframe.
USDMXN Up 155 Pips Over Past Hour, Came Into Today Up For the 2nd Day In A Row; Price Base in Formation Over Past 90 Days
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 127 Pips in Last Hour, 2 Day Down Streak Broken; Nears 20 Day Moving Average
Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
USDMXN Down 290 Pips On Hourly Chart, Crosses 100 Day Moving Average; in a Downtrend Over Past 30 Days
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
USDMXN Up 165 Pips On Hourly Chart, 2 Day Up Streak Ended; in a Downtrend Over Past 30 Days
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 Down 208 Pips Over Past Hour, Moves Up For the 2nd Straight Day; in a Downtrend Over Past 30 Days
Volatility for usdmxn has been contracting over the past two weeks relative to volatility over the past month.
USDMXN Down 67 Pips in Last Hour, Outperforms All Forex; Makes Big Move Relative to Two Week Trend
Volatility for usdmxn has been contracting over the past two weeks relative to volatility over the past month.
USDMXN Down 14 Pips On Hourly Chart, 2 Day Up Streak Snapped; in a Downtrend Over Past 30 Days
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDMXN Up 161 Pips in Last Hour, Entered Today Up For the 2nd Straight Day; is Inching Close to 20 Day Average
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
USDMXN Down 46 Pips in Last Hour; in a Downtrend Over Past 30 Days
Volatility for usdmxn has been contracting over the past two weeks relative to volatility over the past month.