USD/MXN Up 944 Pips Over Past 4 Hours, Came Into Today Down For the 3rd Day In A Row; in an Uptrend Over Past 90 Days

USD/MXN 4 Hour Price Update

Updated May 19, 2020 05:13 PM GMT (01:13 PM EST)

A moment of silence, please, for the end of USD/MXN’s 4 four-hour candle down streak; price ended the last 4 hour candle up 944 pips (0.4%) to finish the four-hour candle at a rate of 23.6289. Relative to other instruments in the Forex asset class, USD/MXN ranked 9th the last 4 hour candle in terms of percentage price change.

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/MXN is down 147 pips (0.06%) since the day prior (opening today near 23.7411), marking the 3rd day in a row a decline has happened. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 39th for the day in terms of price change. Below is a price chart of USD/MXN.

USD/MXN Technical Analysis

The first thing we should note is that USD/MXN is now close to its 20 and 50 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 20 day average, which is 3338.6 pips away. Trend traders will want to observe that the strongest trend appears on the 90 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 16 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for USDMXN; just 3 sell signals and 0 buy signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on; below is a short snippet from it to give you a taste.

Ese es mi conteo, a ver si se da para entrar largos mas adelante.