(Last Updated January 15, 2021 3:16 GMT)
At the time of this writing, USDMXN’s rate is up 347 pips (0.18%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on USDMXN. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
USDMXN End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for USDMXN, which started today off at 19.664401, down 1650 pips 0.83% from the previous day. Out of the 40 instruments in the Forex asset class, USDMXN ended up ranking 39th for the day in terms of price change. The price chart of USDMXN below illustrates.
USDMXN Technical Analysis
Coming into today USDMXN is now close to its 20 and 50 day averages, located at 19.906 and 20.0645 respectively, and thus may be at a key juncture along those timeframes. 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 8 out of the past 14 days.
The View From Around the Web
Not much commentary on USDMXN that we’re finding noteworthy here; as such, there’s not much we can say about sentiment. Here’s a piece we found on tradingview.com that we thought you might enjoy.