EUR/MXN

- MXN (-)

- Real time data - Forex

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Forex
Ticker:	EURMXN
ISIN:

EUR/MXN - 1H - Technical analysis published on 04/23/2024 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : LEVEL MAINTAINED

Summary of the analysis

Trends

Short term: Bullish

Underlying: Strongly bullish

Technical indicators

72%

22%

My opinion

Bullish above 18.0781 MXN

My targets

18.3331 MXN (+0.0759)

18.3647 MXN (+0.1075)

My analysis

The basic bullish trend is very strong on EUR/MXN but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 18.0781 MXN. Crossing the first resistance at 18.3331 MXN would be a sign of a potential new surge in the price. Buyers would then use the next resistance located at 18.3647 MXN as an objective. Crossing it would then enable buyers to target 18.6163 MXN. Caution, a return to below 18.0781 MXN would be a sign of a consolidation phase in the short-term basic trend. 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.

In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.

Force

6.8

Comment on the analysis

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.

This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:

Additional analysis

Quotes

EUR/MXN rating 18.2572 MXN. The price has increased by +0.00% since the last closing and was traded between 18.2543 MXN and 18.2654 MXN over the period. The price is currently at +0.02% from its lowest and -0.04% from its highest.

18.2543

18.2654

18.2572

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

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:

Near a new LOW record (5 years)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 year)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of EUR/MXN indicates that the overall trend is strongly bullish. The signals given by moving averages are 82.14% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.

In fact, 13 technical indicators on 18 studied are currently positioned bullish. The Central Indicators scanner found this result concerning these indicators:

Momentum indicator is back under 0

Type : Bearish

Timeframe : 1 hour

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

Near horizontal resistance

Type : Bearish

Timeframe : 1 hour

The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:

Doji

Type : Neutral

Timeframe : 1 hour

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	17.6354	17.8098	18.0781	18.2572	18.3331	18.6163	18.9823
Change (%)	-3.41%	-2.45%	-0.98%	-	+0.42%	+1.97%	+3.97%
Change	-0.6218	-0.4474	-0.1791	-	+0.0759	+0.3591	+0.7251
Level	Intermediate	Intermediate	Major	-	Intermediate	Intermediate	Intermediate

To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	17.9746	18.0572	18.1573	18.2399	18.3400	18.4226	18.5227
Camarilla	18.2072	18.2239	18.2407	18.2574	18.2742	18.2909	18.3076
Woodie	17.9834	18.0616	18.1661	18.2443	18.3488	18.4270	18.5315
Fibonacci	18.0572	18.1270	18.1701	18.2399	18.3097	18.3528	18.4226

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	15.8516	16.7398	17.4765	18.3647	19.1014	19.9896	20.7263
Camarilla	17.7663	17.9152	18.0642	18.2131	18.3621	18.5110	18.6600
Woodie	15.7758	16.7019	17.4007	18.3268	19.0256	19.9517	20.6505
Fibonacci	16.7398	17.3606	17.7440	18.3647	18.9855	19.3689	19.9896

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	16.9910	17.4182	17.6372	18.0644	18.2834	18.7106	18.9296
Camarilla	17.6786	17.7378	17.7971	17.8563	17.9155	17.9748	18.0340
Woodie	16.8870	17.3662	17.5332	18.0124	18.1794	18.6586	18.8256
Fibonacci	17.4182	17.6650	17.8175	18.0644	18.3112	18.4637	18.7106

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):	53.39
MACD (12,26,9):	0.0056
Directional Movement:	9.8345
AROON (14):	21.4286
DEMA (21):	18.2442
Parabolic SAR (0,02-0,02-0,2):	18.2357
Elder Ray (13):	0.0139
Super Trend (3,10):	18.3150
Zig ZAG (10):	18.2577
VORTEX (21):	1.1157
Stochastique (14,3,5):	62.87
TEMA (21):	18.2576
Williams %R (14):	-36.42
Chande Momentum Oscillator (20):	-0.0090
Repulse (5,40,3):	0.0155
ROCnROLL:	1
TRIX (15,9):	-0.0029
Courbe Coppock:	0.71

MA7:	18.1223
MA20:	17.9254
MA50:	18.1793
MA100:	18.4089
MAexp7:	18.2544
MAexp20:	18.2421
MAexp50:	18.2338
MAexp100:	18.1709
Price / MA7:	+0.74%
Price / MA20:	+1.85%
Price / MA50:	+0.43%
Price / MA100:	-0.82%
Price / MAexp7:	+0.02%
Price / MAexp20:	+0.08%
Price / MAexp50:	+0.13%
Price / MAexp100:	+0.47%

Quotes : - Real time data - Forex

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

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