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Forex Trend Analysis Report
Prepared for you on Tuesday, October 8, 2024.
US Dollar/Mexican Peso (FOREX:USDMXN)
Sidelines Mode (-55) - USDMXN is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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 DOWN since Sep 17th, 2024 at 19.096800
The short-term trend has been UP since Oct 8th, 2024 at 19.429000
Smart Scan Analysis for USDMXN
Based on our trend formula, USDMXN is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 19.3269 | 19.4454 | 19.2246 | 19.3531 | +0.0262 |
| Prev. Close | Volume | Bid | Ask | Time |
| 19.3269 | 2024-10-08 19:22:55 |