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Forex Trend Analysis Report
Prepared for you on Tuesday, November 5, 2024.
US Dollar/Mexican Peso (FOREX:USDMXN)
Countertrend Up (+85) - USDMXN is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid USDMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for USDMXN
The long-term trend has been UP since Apr 18th, 2024 at 17.387005
The intermediate-term trend has been UP since Oct 16th, 2024 at 19.828400
The short-term trend has been DOWN since Nov 1st, 2024 at 19.962370
Smart Scan Analysis for USDMXN
Based on our trend formula, USDMXN is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 20.12030 | 20.16969 | 20.10390 | 20.15050 | +0.03020 |
| Prev. Close | Volume | Bid | Ask | Time |
| 20.12030 | 2024-11-05 03:40:09 |