USD/MXN 4 Hour Price Update
Updated May 25, 2020 05:11 PM GMT (01:11 PM EST)
USD/MXN is down 877 pips (0.39%) since the previous 4 hours (opening the current 4 hour candle near 22.547), marking the 2nd candle in a row it has gone down. Those trading within the Forex asset class should know that USD/MXN was the worst performer in the class.
USD/MXN End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/MXN, which opened today priced near 22.7257, is up 14 pips 0.01% since yesterday, marking a reversal from the day prior — and the end of a 6 day negative run. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 24th in terms of percentage change since yesterday. Here is a price chart of USD/MXN.
USD/MXN Technical Analysis
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 100 day average, which is 5995.6 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 14 and 30 day timeframes. For additional context, note that price has gone down 8 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for USDMXN; just 1 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com that we thought you might enjoy.