USD/MXN - 1H - Technical analysis published on 09/28/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 22.5507 MXN
My targets
22.7006 MXN (+0.0984)
23.0133 MXN (+0.4111)
My analysis
The bullish trend is currently very strong on USD/MXN. As long as the price remains above the support at 22.5507 MXN, you could try to benefit from the boom. The first bullish objective is located at 22.7006 MXN. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 23.0133 MXN as an objective. Crossing it would then enable buyers to target 23.0583 MXN. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.8
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The USD/MXN price is 22.6022 MXN. The price registered an increase of +1.16% on the session and was traded between 22.1483 MXN and 22.6552 MXN over the period. The price is currently at +2.05% from its lowest and -0.23% from its highest.22.1483
22.6552
22.6022
The Central Gaps scanner detects a bullish opening. A small advantage for buyers in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of USD/MXN in 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further increase is high given the direction of the technical indicators.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The Central Patterns scanner, which studies chart patterns, resistances and supports, has identified this signal:
Horizontal support is broken
Type : Bearish
Timeframe : 1 hour
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bullish signal that could support the hypothesis of a small rebound in the very short term:
Bullish engulfing lines
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 21.9263 | 22.3256 | 22.5507 | 22.6022 | 22.7006 | 23.0583 | 23.7548 |
| Change (%) | -2.99% | -1.22% | -0.23% | - | +0.44% | +2.02% | +5.10% |
| Change | -0.6759 | -0.2766 | -0.0515 | - | +0.0984 | +0.4561 | +1.1526 |
| Level | Major | Minor | Minor | - | Intermediate | Intermediate | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 21.4671 | 21.7269 | 22.0354 | 22.2952 | 22.6037 | 22.8635 | 23.1720 |
| Camarilla | 22.1876 | 22.2397 | 22.2918 | 22.3439 | 22.3960 | 22.4481 | 22.5002 |
| Woodie | 21.4915 | 21.7391 | 22.0598 | 22.3074 | 22.6281 | 22.8757 | 23.1964 |
| Fibonacci | 21.7269 | 21.9440 | 22.0781 | 22.2952 | 22.5123 | 22.6464 | 22.8635 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 19.7103 | 20.3797 | 21.3618 | 22.0312 | 23.0133 | 23.6827 | 24.6648 |
| Camarilla | 21.8897 | 22.0411 | 22.1925 | 22.3439 | 22.4953 | 22.6467 | 22.7981 |
| Woodie | 19.8667 | 20.4579 | 21.5182 | 22.1094 | 23.1697 | 23.7609 | 24.8212 |
| Fibonacci | 20.3797 | 21.0106 | 21.4003 | 22.0312 | 22.6621 | 23.0518 | 23.6827 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 20.2976 | 21.0188 | 21.4682 | 22.1894 | 22.6388 | 23.3600 | 23.8094 |
| Camarilla | 21.5958 | 21.7031 | 21.8104 | 21.9177 | 22.0250 | 22.1323 | 22.2396 |
| Woodie | 20.1618 | 20.9509 | 21.3324 | 22.1215 | 22.5030 | 23.2921 | 23.6736 |
| Fibonacci | 21.0188 | 21.4659 | 21.7422 | 22.1894 | 22.6365 | 22.9128 | 23.3600 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 67.00 | |
| MACD (12,26,9): | 0.0566 | |
| Directional Movement: | 16.2848 | |
| AROON (14): | 35.7142 | |
| DEMA (21): | 22.4530 | |
| Parabolic SAR (0,02-0,02-0,2): | 22.2014 | |
| Elder Ray (13): | 0.1789 | |
| Super Trend (3,10): | 22.2959 | |
| Zig ZAG (10): | 22.5955 | |
| VORTEX (21): | 1.1379 | |
| Stochastique (14,3,5): | 85.55 | |
| TEMA (21): | 22.4864 | |
| Williams %R (14): | -12.61 | |
| Chande Momentum Oscillator (20): | 0.2833 | |
| Repulse (5,40,3): | 0.3614 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0168 | |
| Courbe Coppock: | 1.12 |
| MA7: | 21.9446 | |
| MA20: | 21.6066 | |
| MA50: | 21.9562 | |
| MA100: | 22.2829 | |
| MAexp7: | 22.4751 | |
| MAexp20: | 22.3909 | |
| MAexp50: | 22.3078 | |
| MAexp100: | 22.1333 | |
| Price / MA7: | +3.00% | |
| Price / MA20: | +4.61% | |
| Price / MA50: | +2.94% | |
| Price / MA100: | +1.43% | |
| Price / MAexp7: | +0.57% | |
| Price / MAexp20: | +0.94% | |
| Price / MAexp50: | +1.32% | |
| Price / MAexp100: | +2.12% |
Quotes :
2020-09-28 17:58:46
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Real time data
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Forex
News
The latest news and videos published on USD/MXN at the time of the analysis were as follows:
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USD/MXN Forecast September 15, 2020
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USD/MXN Forecast September 14, 2020
-
USD/MXN Forecast September 9, 2020
-
USD/MXN Forecast August 21, 2020
-
USD/MXN Forecast August 19, 2020
This member declared not having a position on this financial instrument or a related financial instrument.
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