USD/MXN Up 31 Pips On 4 Hour Chart, Moves Up For the 5th Day In A Row; in a Downtrend Over Past 14 Days

USD/MXN 4 Hour Price Update

Updated August 03, 2020 05:10 AM GMT (01:10 AM EST)

USD/MXN entered the current 4 hour candle at 22.273, up 31 pips (0.01%) from the previous 4 hours. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 15th in terms of percentage change since the previous 4 hours.

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/MXN is up 153 pips (0.07%) since the day prior (opening today near 22.2742), marking the 5th day in a row it has gone up. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 9th for the day in terms of price change. Below is a price chart of USD/MXN.

USD/MXN

USD/MXN Technical Analysis

Notably, the current price of USD/MXN is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 20 day average, which is 480.1 pips away. 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. Or to simplify this another way, note that out of the past 14 days USD/MXN’s price has gone up 10 them. 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 in terms quality buy/sell signals we’re seeing for USDMXN; just 2 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.5, which is bearish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

Dollar weakness undermines USD/MXN performance as coronavirus cases continue to spook the market