EUR/MXN
EUR MXN
- MXN (-)
- Real time data - Forex
Open: -
Change: -
Volume: -
Low: -
High: -
High / Low range: -
Type: Forex
Ticker: EURMXN
ISIN:

EUR/MXN - Daily - Technical analysis published on 11/24/2021 (GMT)

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  • Timeframe : Daily
  • - Analysis generated on
  • Status : TARGET REACHED

Summary of the analysis

Trends
Short term: Strongly bullish
Underlying: Strongly bullish
Technical indicators
83%
6%
11%
My opinion
Bullish above 23.6619 MXN
My targets
24.1899 MXN (+0.3267)
24.3940 MXN (+0.5308)
My analysis
EUR/MXN is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 23.6619 MXN. The next resistance located at 24.1899 MXN is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 24.3940 MXN. After this resistance, buyers could then target 25.4788 MXN. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.5

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
15 min. 1H Weekly

Additional analysis

Quotes

The EUR/MXN rating is 23.8632 MXN. On the day, this instrument lost -0.21% and was between 23.8496 MXN and 23.9177 MXN. This implies that the price is at +0.06% from its lowest and at -0.23% from its highest.

23.8496
23.9177
23.8632

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Central Gaps

Bullish opening

Type : Bullish

Timeframe : Openning



A study of price movements over other periods shows the following variations:
The Central Records scanner for higher/lower results shows an item:

Central Records

Near a new LOW record (1st january)

Type : Bearish

Timeframe : Weekly



Technical


Technical analysis of EUR/MXN in Daily shows a strongly overall bullish trend. 82.14% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:

Central Indicators

Bullish trend reversal : adaptative moving average 50

Type : Bullish

Timeframe : Daily


Bullish trend reversal : adaptative moving average 100

Type : Bullish

Timeframe : Daily


Bullish price crossover with Moving Average 20

Type : Bullish

Timeframe : Daily


Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Daily


Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Daily


Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : Daily


Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Daily


Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Daily



The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:

Central Indicators

Williams %R indicator is overbought : over -20

Type : Neutral

Timeframe : Daily

Central Indicators, the detector scanner for these technical indicators has recently detected several signals:

Central Indicators

Pivot points : price is over resistance 2

Type : Neutral

Timeframe : Weekly


RSI indicator is back over 50

Type : Bullish

Timeframe : Daily


MACD crosses UP its Moving Average

Type : Bullish

Timeframe : Daily


Parabolic SAR indicator bullish reversal

Type : Bullish

Timeframe : Daily


Ichimoku : price is over the cloud

Type : Bullish

Timeframe : Daily


Price is back over the pivot point

Type : Bullish

Timeframe : Daily


Momentum indicator is back over 0

Type : Bullish

Timeframe : Daily


Williams %R indicator is back over -50

Type : Bullish

Timeframe : Daily



Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:

Central Patterns

Horizontal resistance is broken

Type : Bullish

Timeframe : Daily


Resistance of channel is broken

Type : Bullish

Timeframe : Daily



No result was found by the Central Candlesticks scanner on Japanese candlesticks.


ProTrendLines
S3
S2
S1
R1
R2
R3
Price


S3S2S1PriceR1R2R3
ProTrendLines 22.3001 23.3685 23.6619 23.8632 23.8688 24.1899 24.3940
Change (%) -6.55% -2.07% -0.84% - +0.02% +1.37% +2.22%
Change -1.5631 -0.4947 -0.2013 - +0.0056 +0.3267 +0.5308
Level Intermediate Major Major - Intermediate Intermediate Major



Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:

Daily
Pivot points S3 S2 S1 PP R1 R2 R3
Standard23.270323.435823.674623.840124.078924.244424.4832
Camarilla23.802223.839323.876323.913423.950523.987524.0246
Woodie23.307023.454123.711323.858424.115624.262724.5199
Fibonacci23.435823.590223.685723.840123.994524.090024.2444


Weekly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard23.015023.179923.348823.513723.682623.847524.0164
Camarilla23.425823.456423.487023.517623.548223.578823.6094
Woodie23.016923.180923.350723.514723.684523.848524.0183
Fibonacci23.179923.307423.386223.513723.641223.720023.8475


Monthly
Pivot points S3 S2 S1 PP R1 R2 R3
Standard22.587522.981423.377523.771424.167524.561424.9575
Camarilla23.556323.628723.701123.773523.845923.918323.9908
Woodie22.588522.982023.378523.772024.168524.562024.9585
Fibonacci22.981423.283223.469723.771424.073224.259724.5614

Numerical data


The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators
Moving averages

RSI (14): 56.12
MACD (12,26,9): 0.0029
Directional Movement: 13.5177
AROON (14): 28.5714
DEMA (21): 23.6480
Parabolic SAR (0,02-0,02-0,2): 23.3581
Elder Ray (13): 0.2249
Super Trend (3,10): 24.1680
Zig ZAG (10): 23.8577
VORTEX (21): 1.0851
Stochastique (14,3,5): 64.50
TEMA (21): 23.6618
Williams %R (14): -21.81
Chande Momentum Oscillator (20): 0.3039
Repulse (5,40,3): 1.0919
ROCnROLL: 1
TRIX (15,9): -0.0185
Courbe Coppock: 1.01
MA7: 23.6318
MA20: 23.6855
MA50: 23.6799
MA100: 23.6471
MAexp7: 23.7026
MAexp20: 23.6554
MAexp50: 23.6699
MAexp100: 23.7272
Price / MA7: +0.98%
Price / MA20: +0.75%
Price / MA50: +0.77%
Price / MA100: +0.91%
Price / MAexp7: +0.68%
Price / MAexp20: +0.88%
Price / MAexp50: +0.82%
Price / MAexp100: +0.57%

Quotes : - Real time data - Forex

This member declared not having a position on this financial instrument or a related financial instrument.

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