USDMXN Down 110 Pips Over Past Hour, Tops All Forex; 3 Day Down Streak Broken
Or to simplify this another way, note that out of the past 14 days usdmxn’s price has gone down 8 them.
(Last Updated January 18, 2021)
Hello! This is the news page for USDMXN. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
---|---|---|---|---|---|---|---|
United States Foreign Bond Investment | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Net Long-Term Tic Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Overall Net Capital Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
United States Joe Biden’s Inauguration | NA | US Dollar | USD | 2021-01-20 | 00:00 GMT | ||
United States NAHB Housing Market Index | Jan 2021 | US Dollar | USD | 2021-01-20 | 15:00 GMT | 86 |
On USDMXN, we don’t see a clear trend until the 90 day basis, where we see a clear downtrend.
USDMXN’s moving averages suggest the trend on a number of time horizons is bearish.
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 GBPCHF. Over the past 14 days, however, GBPUSD is the asset most correlated to USDMXN. On the flip side, the asset least correlated with USDMXN over the past week has been NZDCAD, but if we observe the prior two weeks, USDZAR has been the asset least correlated with USDMXN. The chart below illustrates USDMXN against its least correlated assets.
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Currently, USDMXN’s rate is down -1994 pips (-1%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. 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.
Strongest trend on the 60 month timeframe.
Or to simplify this another way, note that out of the past 14 days usdmxn’s price has gone down 8 them.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
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.
Price action traders may also wish to note that we see a doji candlestick pattern on usdmxn.
It’s been a feast for bulls operating on an hourly timeframe, as usdmxn has now gone up 4 of the past 5 hours.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
This is a reversal of the price action on the previous hour, in which price moved down.