USDMXN Down 261 Pips On Hourly Chart, Tops All Forex; 3 Day Down Streak Ended – CFD Trading

Hourly Update

(Last Updated March 4, 2021 16:16 GMT)

At the moment, USDMXN’s rate is down -876 pips (-0.42%) from the hour prior. USDMXN has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDMXN End of Day Recap

Updated 00:30 GMT (04:30 EST)

USDMXN, which opened today priced near 20.94079, is up 3400 pips 1.65% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. USDMXN outperformed all 39 assets in the Forex asset class yesterday. Here is a price chart of USDMXN.

USDMXN

USDMXN Technical Analysis

The first thing we should note is that USDMXN is now close to its 200 day averages, located at 21.1928 respectively, and thus may be at a key juncture along those timeframes. 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 200 day average, which is 2519.8 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.

The View From Around the Web

Not much commentary on USDMXN that we’re finding noteworthy here; guess people aren’t watching this one :). Here’s a piece we found on tradingview.com that we thought you might enjoy.

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