USD/MXN 2 Day Up Streak Ended, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

USD/MXN Price Recap

USD/MXN is down 213 pips (0.11%) since yesterday (with its current price near 18.5983), marking the 4th day in a row it has gone down. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 17.9% from the day prior, but down 7.23% from the same day the week before. Relative to other instruments in the Forex asset class, USD/MXN ranked 21st yesterday in terms of percentage price change. Below is a price chart of USD/MXN.

USD/MXN Technical Analysis

Coming into today USD/MXN is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much commentary on USDMXN that we’re finding noteworthy here; are y’all just scared to put out an opinion? 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

esta es mi idea de trade para el peso mexicano