Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
The closest is the 50 day average, which is 3110 pips away.
Price action traders may also wish to note that we see a doji candlestick pattern on usdmxn.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
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.
The closest is the 50 day average, which is 2560.5 pips away.
After the bounce, we could spot price moving in a range for about two to three months.
It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign.