USD/MXN Up 203 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; Doji and Pin Bar Patterns Appearing on Chart

USD/MXN 4 Hour Price Update

Updated May 14, 2020 09:09 AM GMT (05:09 AM EST)

USD/MXN is up 203 pips (0.08%) since the previous 4 hours (opening the current 4 hour candle near 24.2322), marking the 2nd candle in a row an increase has occurred. Relative to other instruments in the Forex asset class, USD/MXN ranked 7th the previous 4 hours in terms of percentage price change.

USD/MXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for USD/MXN, which started today off at 24.1805, up 154 pips 0.06% from the day prior. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 12th for the day in terms of price change. Let’s take a look at 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. 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. For additional context, note that price has gone up 17 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji and pin bar patterns appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on USDMXN, with 0 buy signals on our radar and 6 sell signals. This imputes a buy/sell ratio of 0, which is quite bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

“Mexican President Andres Manuel Lopez Obrador has unveiled a plan to reopen the country’s economy by June 1 as part of a “new normality” after several weeks of lockdown measures to curb the spread of the coronavirus pandemic” @Aljazeera. This is what I have been waiting for since last week, a great SELL is coming in the near future for this pair as MXN will gain strength in the coming weeks. I captured more than 50,000pips in March alone. This is another chance to capture more than 25,000pips this pair is going to SELL like crazy real soon!!!!