USD/MXN Price Recap
USD/MXN is up 301 pips (0.16%) since yesterday (with its current price near 18.5889), marking the 2nd day in a row an upward move has occurred. The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was up 127.72% from the day prior, but down 44.46% from the same day the week before. Relative to other instruments in the Forex asset class, USD/MXN ranked 14th yesterday in terms of percentage price change. Below is a price chart of USD/MXN.
USD/MXN Technical Analysis
Coming into today the current price of USD/MXN is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Something else of critical noteworthiness is that USD/MXN’s momentum/trend on a 14 day basis may be decelerating. Volatility for USD/MXN has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 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 0 sell signals and 1 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; below is a short snippet from it to give you a taste.
– Possible bullish price movement towards the next resistance 18.8000 and 19.000 within the next period. – Supported by Upward sloping Moving Average