USDMXN Up 40 Pips On Hourly Chart, 3 Day Down Streak Broken; Pin Bar Pattern Appearing on Chart
(Last Updated June 10, 2021 14:16 GMT)
At the moment, USDMXN’s rate is down -652 pips (-0.33%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them with price now being below them. 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 ...