USD/MXN Up 1877 Pips On 4 Hour Chart, Came Into Today Up For the 5th Day In A Row; in an Uptrend Over Past 30 Days

USD/MXN 4 Hour Price Update

Updated March 24, 2020 03:17 AM GMT (11:17 PM EST)

USD/MXN is up 1877 pips (0.75%) since the last 4 hour candle (opening the current 4 hour candle near 25.3227), marking the 3rd candle in a row it has gone up. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 9th in terms of percentage change since the last 4 hour candle.

USD/MXN Daily New York Session Recap

Updated 21:00 GMT (17:00 EST)

USD/MXN is up 4115 pips (1.71%) since the close of the previous day’s New York session (opening today’s post-New York session near 24.4243), marking the 5th 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 13.81% from the day before — and down 0.4% from the same day the week before. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 3rd in terms of percentage change since the close of the previous day’s New York session. Here is a price chart of USD/MXN.

USD/MXN Technical Analysis

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. Or to simplify this another way, note that out of the past 30 days USD/MXN’s price has gone up 22 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on USDMXN, with 2 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.5, which is bearish. As for the rationale, technical traders seem to be citing the appearance of divergence, relative strength index and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

RSI frequently overboughtAscending wedgeBearish divergenceParabolic price rise