USD/MXN Heads Up For the 3rd Day In A Row; in an Uptrend Over Past 14 Days

USD/MXN Price Recap

USD/MXN is up 7768 pips (3.39%) since yesterday (with its current price near 23.714801), marking the 3rd day in a row an upward move has occurred. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 24.91% from the day before — and down 34.72% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 4th for the day in terms of day-over-day price change. The price chart of USD/MXN below illustrates.

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 20 day average, which is 32716.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days USD/MXN’s price has gone up 9 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDMXN; just 3 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.