USDMXN Up 16 Pips Over Past Hour, Moves Down For the 4th Day In A Row; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated February 15, 2021 23:15 GMT)

Currently, USDMXN’s rate is up 16 pips (0.01%) from the hour prior. This is the 2nd straight hour USDMXN has seen its price head up. 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 pin bar candlestick pattern on USDMXN. Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on USDMXN; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

USDMXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDMXN is down 187 pips (0.09%) since yesterday (opening today near 19.94669), marking the 4th day in a row it has gone down. Compared to its peers in the Forex, USDMXN gave its buyers a return that ranked 28th in terms of percentage change since yesterday. The price chart of USDMXN below illustrates.

USDMXN

USDMXN Technical Analysis

Coming into today USDMXN is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 317.8 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone down 17 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.