USDMXN Down 181 Pips On Hourly Chart, 2 Day Up Streak Snapped; Crosses 200 Day Moving Average

Hourly Update

(Last Updated September 11, 2020 16:13 GMT)

Currently, USDMXN’s rate is down -181 pips (-0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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)

The back and forth price flow continues for USDMXN, which started today off at 21.3559, down 4034 pips 1.85% from the day prior. Relative to other instruments in the Forex asset class, USDMXN ranked 39th the day prior in terms of percentage price change. Here is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDMXN crossed below its 200 day moving average yesterday. 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 200 day average, which is 1892.7 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 17 out of the past 30 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDMXN; just 0 sell signals and 3 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com that we thought you might enjoy.


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram