USD/MXN Up 547 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart

USD/MXN 4 Hour Price Update

Updated June 26, 2020 01:08 PM GMT (09:08 AM EST)

USD/MXN is up 547 pips (0.24%) since the last 4 hour candle (opening the current 4 hour candle near 22.7877), marking the 2nd candle in a row an upward move has occurred. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 4th in terms of percentage change since the last 4 hour candle.

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USD/MXN entered today at 22.65909, up 120 pips (0.05%) from the day prior. Compared to its peers in the Forex, USD/MXN gave its buyers a return that ranked 13th in terms of percentage change since the day prior. The price chart of USD/MXN below illustrates.

USD/MXN Technical Analysis

The first thing we should note is that the current price of USD/MXN is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 50 day average, which is 2301.7 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 down. For additional context, note that price has gone up 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.