USD/MXN - 1H - Technical analysis published on 03/22/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 16.7883 MXN
My targets
16.6804 MXN (-0.0470)
16.4102 MXN (-0.3172)
My analysis
In the short term, we can see an acceleration in the bearish trend on USD/MXN, which is a positive signal for sellers. As long as the price remains above 16.7883 MXN, a sale could be considered. The first bearish objective is located at 16.6804 MXN. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 16.4102 MXN as an objective. Crossing it would then enable sellers to target 14.3324 MXN. If the price were to return above 16.7883 MXN, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
6.1
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This analysis was given by Bader almutairi. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/MXN rating 16.7274 MXN. The price is lower by -0.09% since the last closing and was between 16.6940 MXN and 16.8265 MXN. This implies that the price is at +0.20% from its lowest and at -0.59% from its highest.16.6940
16.8265
16.7274
A study of price movements over other periods shows the following variations:
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 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 bearish. The signals given by moving averages are 78.57% bearish. This bearish trend is reinforced by the strong signals currently being given by short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish price crossover with Moving Average 50
Type : Bullish
Timeframe : 1 hour
In fact, 11 technical indicators on 18 studied are currently positioned bearish. Other results related to technical indicators were also found by the Central Indicators scanner:
MACD indicator is back under 0
Type : Bearish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Near support of channel
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
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 11.4955 | 14.3324 | 16.6804 | 16.7274 | 16.7406 | 16.7883 | 16.8365 |
| Change (%) | -31.28% | -14.32% | -0.28% | - | +0.08% | +0.36% | +0.65% |
| Change | -5.2319 | -2.3950 | -0.0470 | - | +0.0132 | +0.0609 | +0.1091 |
| Level | Minor | Intermediate | Major | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.5575 | 16.6129 | 16.6774 | 16.7328 | 16.7973 | 16.8527 | 16.9172 |
| Camarilla | 16.7089 | 16.7199 | 16.7309 | 16.7419 | 16.7529 | 16.7639 | 16.7749 |
| Woodie | 16.5621 | 16.6152 | 16.6820 | 16.7351 | 16.8019 | 16.8550 | 16.9218 |
| Fibonacci | 16.6129 | 16.6587 | 16.6870 | 16.7328 | 16.7786 | 16.8069 | 16.8527 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.4102 | 16.5279 | 16.6215 | 16.7392 | 16.8328 | 16.9505 | 17.0441 |
| Camarilla | 16.6569 | 16.6763 | 16.6956 | 16.7150 | 16.7344 | 16.7537 | 16.7731 |
| Woodie | 16.3981 | 16.5219 | 16.6094 | 16.7332 | 16.8207 | 16.9445 | 17.0320 |
| Fibonacci | 16.5279 | 16.6087 | 16.6585 | 16.7392 | 16.8200 | 16.8698 | 16.9505 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16.6441 | 16.8193 | 16.9349 | 17.1101 | 17.2257 | 17.4009 | 17.5165 |
| Camarilla | 16.9704 | 16.9971 | 17.0237 | 17.0504 | 17.0771 | 17.1037 | 17.1304 |
| Woodie | 16.6142 | 16.8044 | 16.9050 | 17.0952 | 17.1958 | 17.3860 | 17.4866 |
| Fibonacci | 16.8193 | 16.9304 | 16.9991 | 17.1101 | 17.2212 | 17.2899 | 17.4009 |
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): | 45.65 | |
| MACD (12,26,9): | -0.0006 | |
| Directional Movement: | -8.7258 | |
| AROON (14): | -14.2857 | |
| DEMA (21): | 16.7571 | |
| Parabolic SAR (0,02-0,02-0,2): | 16.8111 | |
| Elder Ray (13): | -0.0235 | |
| Super Trend (3,10): | 16.8194 | |
| Zig ZAG (10): | 16.7354 | |
| VORTEX (21): | 1.0044 | |
| Stochastique (14,3,5): | 29.01 | |
| TEMA (21): | 16.7544 | |
| Williams %R (14): | -68.60 | |
| Chande Momentum Oscillator (20): | -0.0387 | |
| Repulse (5,40,3): | -0.0126 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0070 | |
| Courbe Coppock: | 0.01 |
| MA7: | 16.7472 | |
| MA20: | 16.8653 | |
| MA50: | 17.0222 | |
| MA100: | 17.1194 | |
| MAexp7: | 16.7463 | |
| MAexp20: | 16.7545 | |
| MAexp50: | 16.7546 | |
| MAexp100: | 16.7602 | |
| Price / MA7: | -0.12% | |
| Price / MA20: | -0.82% | |
| Price / MA50: | -1.73% | |
| Price / MA100: | -2.29% | |
| Price / MAexp7: | -0.11% | |
| Price / MAexp20: | -0.16% | |
| Price / MAexp50: | -0.16% | |
| Price / MAexp100: | -0.20% |
Quotes :
-
Real time data
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Forex
News
The latest news and videos published on USD/MXN at the time of the analysis were as follows:
-
USD/MXN Forecast February 22, 2024
-
USD/MXN Forecast September 11, 2023
-
USD/MXN Forecast March 9, 2023
-
USD/MXN and USD/ZAR Forecast May 16, 2022
-
USD/MXN and USD/ZAR Forecast April 20, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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