USD/MXN Up 2068 Pips Over Past 4 Hours, Outperforms All Forex; 3 Day Down Streak Ended

USD/MXN 4 Hour Price Update

Updated March 27, 2020 12:49 AM GMT (08:49 PM EST)

A moment of silence, please, for the end of USD/MXN’s 3 four-hour candle down streak; price ended the last 4 hour candle up 2068 pips (0.9%) to finish the four-hour candle at a rate of 23.2279. On a relative basis, the last 4 hour candle were pretty good: USD/MXN bested all 40 of the assets in the Forex class 🙂

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of USD/MXN’s 3 day down streak; price ended yesterday up 3331 pips (1.45%) to finish the day at a rate of 23.2753. On a relative basis, yesterday was pretty good: USD/MXN bested all 40 of the assets in the Forex class 🙂 The price chart of USD/MXN below illustrates.

USD/MXN Technical Analysis

The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.

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. As for the rationale, technical traders seem to be citing the appearance of head and shoulders technical patterns. Here’s a piece we found on tradingview.com that we thought you might enjoy.