USD/MXN Heads Up For the 4th Day In A Row, in a Downtrend Over Past 90 Days; Nears 100 Day Moving Average

USD/MXN Price Recap

USD/MXN is up 75 pips (0.04%) since yesterday (with its current price near 19.0771), marking the 4th day in a row an upward move has occurred. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 37.96% from the day prior, and up 157.61% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 16th for the day in terms of day-over-day price change. Here is a price chart of USD/MXN.

USD/MXN Technical Analysis

Coming into today USD/MXN is now close to its 20, 50, 100 and 200 day averages, located at 18.7252, 18.7928, 19.0358 and 19.2081 respectively, and thus may be at a key juncture along those timeframes. Volatility for USD/MXN has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. The clearest trend exists on the 14 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 90 day timeframe. Or to simplify this another way, note that out of the past 14 days USD/MXN’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns 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 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on that we thought you might enjoy.