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USD/MXN
USD MXN
- MXN (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: USDMXN
ISIN:

USD/MXN - 1H - Technical analysis published on 04/12/2024 (GMT)

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  • Timeframe : 1H
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Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 16.6804 MXN
My targets
16.8374 MXN (+0.1347)
17.0411 MXN (+0.3384)
My analysis
The bullish trend is currently very strong on USD/MXN. As long as the price remains above the support at 16.6804 MXN, you could try to benefit from the boom. The first bullish objective is located at 16.8374 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 17.0411 MXN as an objective. Crossing it would then enable buyers to target 17.8427 MXN. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.9

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

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This analysis was given by stebetrade. Take part yourself by sharing additional analysis on another time unit:
15 min. Daily Weekly

Additional analysis

Quotes

USD/MXN rating 16.7027 MXN. The price registered an increase of +1.59% on the session and was between 16.4264 MXN and 16.7261 MXN. This implies that the price is at +1.68% from its lowest and at -0.14% from its highest.

16.4264
16.7261
16.7027

The Central Gaps scanner detects a bearish opening. A small advantage for sellers in the very short term.

Central Gaps

Bearish opening

Type : Bearish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The Central Records scanner for higher/lower results shows the following items:

Central Records

New LOW record (5 years)

Type : Bearish

Timeframe : Weekly


Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly


Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly


Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly



Technical


Technical analysis of this 1H chart of USD/MXN indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.

The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

RSI indicator is overbought : over 70

Type : Neutral

Timeframe : 1 hour


CCI indicator is overbought : over 100

Type : Neutral

Timeframe : 1 hour


Previous candle closed over Bollinger bands

Type : Neutral

Timeframe : 1 hour


CCI indicator: bearish divergence

Type : Bearish

Timeframe : 1 hour


Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : 1 hour

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : Weekly


Pivot points : price is over resistance 3

Type : Neutral

Timeframe : 1 hour



An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:

Central Patterns

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour


Resistance of channel is broken

Type : Bullish

Timeframe : 1 hour



The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 16.4930 16.6188 16.6804 16.7027 17.0411 17.8427 18.3446
Change (%) -1.26% -0.50% -0.13% - +2.03% +6.83% +9.83%
Change -0.2097 -0.0839 -0.0223 - +0.3384 +1.1400 +1.6419
Level Intermediate Intermediate Major - Intermediate Minor Intermediate



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard16.264516.319716.380716.435916.496916.552116.6131
Camarilla16.409816.420416.431116.441716.452416.463016.4737
Woodie16.267416.321216.383616.437416.499816.553616.6160
Fibonacci16.319716.364116.391516.435916.480316.507716.5521


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard16.133616.287016.368216.521616.602816.756216.8374
Camarilla16.385016.406516.428016.449516.471016.492516.5140
Woodie16.097616.269016.332216.503616.566816.738216.8014
Fibonacci16.287016.376616.432016.521616.611216.666616.7562


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard15.805916.158616.355316.708016.904717.257417.4541
Camarilla16.400916.451316.501616.552016.602416.652716.7031
Woodie15.727916.119616.277316.669016.826717.218417.3761
Fibonacci16.158616.368516.498116.708016.917917.047517.2574

Numerical data


The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators
Moving averages

RSI (14): 78.28
MACD (12,26,9): 0.0460
Directional Movement: 34.2463
AROON (14): 42.8571
DEMA (21): 16.5597
Parabolic SAR (0,02-0,02-0,2): 16.5059
Elder Ray (13): 0.1477
Super Trend (3,10): 16.5420
Zig ZAG (10): 16.6888
VORTEX (21): 1.2953
Stochastique (14,3,5): 91.85
TEMA (21): 16.5946
Williams %R (14): -13.28
Chande Momentum Oscillator (20): 0.2552
Repulse (5,40,3): 0.7282
ROCnROLL: 1
TRIX (15,9): 0.0167
Courbe Coppock: 1.58
MA7: 16.4748
MA20: 16.5972
MA50: 16.8350
MA100: 16.9877
MAexp7: 16.5804
MAexp20: 16.5115
MAexp50: 16.4672
MAexp100: 16.4527
Price / MA7: +1.38%
Price / MA20: +0.64%
Price / MA50: -0.79%
Price / MA100: -1.68%
Price / MAexp7: +0.74%
Price / MAexp20: +1.16%
Price / MAexp50: +1.43%
Price / MAexp100: +1.52%

Quotes : - Real time data - Forex

News


Don't forget to follow the news on USD/MXN. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

About author

Londinia
Londinia AI

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