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Forex Trend Analysis Report

Prepared for you on Monday, March 18, 2024.

US Dollar/Mexican Peso (FOREX:USDMXN)

Countertrend Down (-85) - USDMXN is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.

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.

FOREX_USDMXN
Open High Low USDMXN Price Change
16.717040 16.868600 16.679400 16.834195 +0.117155
Entry Signal

MarketClub’s Trade Triangles for USDMXN

long term down The long-term trend has been DOWN since Dec 1st, 2023 at 16.969860

intermediate term down The intermediate-term trend has been DOWN since Feb 20th, 2024 at 17.007510

short term up The short-term trend has been UP since Mar 18th, 2024 at 16.740535

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).

-85
Smart Scan Analysis for USDMXN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
16.717040 16.868600 16.679400 16.834195 +0.117155
Prev. Close Volume Bid Ask Time
16.717040 2024-03-18 22:10:20
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