USD/MXN Up 953 Pips, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

USD/MXN Price Recap

USD/MXN is up 953 pips (0.42%) since yesterday (with its current price near 22.938001), marking the 2nd day in a row an upward move has occurred. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 14.68% from the day before — and down 41.75% from the same day the week before. Out of the 40 instruments in the Forex asset class, USD/MXN ended up ranking 8th for the day in terms of day-over-day price change. The price chart of USD/MXN below illustrates.

USD/MXN Technical Analysis

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 27524.7 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days USD/MXN’s price has gone up 12 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.