USD/MXN 4 Hour Price Update
Updated June 19, 2020 09:19 AM GMT (05:19 AM EST)
The back and forth price flow continues for USD/MXN, which started the current 4 hour candle off at 22.6509, down 536 pips 0.24% from the previous 4 hours. Relative to other instruments in the Forex asset class, USD/MXN ranked 36th the previous 4 hours in terms of percentage price change.
USD/MXN End of Day Recap
Updated 00:30 GMT (04:30 EST)
USD/MXN, which opened today priced near 22.67499, is down 542 pips 0.24% since the day prior, marking a reversal from the day prior — and the end of a 4 day positive run. On a relative basis, USD/MXN was the worst performer out of all 40 of the assets in the Forex asset class. Below is a price chart of USD/MXN.
USD/MXN Technical Analysis
Coming into today USD/MXN is now close to its 50 and 100 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 100 day average, which is 2338.9 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 up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 30 days USD/MXN’s price has gone down 20 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
Of note is that traders in aggregate have opinions on USDMXN, with 1 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.25, which is bearish. Here’s a piece we found on tradingview.com that we thought you might enjoy.