USD/MXN - Daily - Technical analysis published on 03/03/2021 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Court terme:
Strongly bullish
De fond:
Bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 20.5801 MXN
My targets
21.3070 MXN (+0.4650)
21.4870 MXN (+0.6450)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on USD/MXN as long as the price remains well above 20.5801 MXN. The buyers” bullish objective is set at 21.3070 MXN. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 21.4870 MXN. If there is any crossing, the next objective would be the resistance located at 21.9263 MXN.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
6.6
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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 20.8420 MXN. On the day, this instrument gained +1.14% and was traded between 20.5509 MXN and 20.8948 MXN over the period. The price is currently at +1.42% from its lowest and -0.25% from its highest.20.5509
20.8948
20.8420
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Technical
A technical analysis in Daily of this USD/MXN chart shows a bullish trend. The signals returned by the moving averages are 71.43% bullish. This bullish trend is reinforced 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.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
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
S3 | S2 | S1 | Price | R1 | R2 | R3 | |
---|---|---|---|---|---|---|---|
ProTrendLines | 19.5873 | 20.1587 | 20.5801 | 20.8420 | 20.8574 | 21.4870 | 21.9263 |
Change (%) | -6.02% | -3.28% | -1.26% | - | +0.07% | +3.09% | +5.20% |
Change | -1.2547 | -0.6833 | -0.2619 | - | +0.0154 | +0.6450 | +1.0843 |
Level | Minor | Major | Major | - | Major | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 20.2755 | 20.4153 | 20.5109 | 20.6507 | 20.7463 | 20.8861 | 20.9817 |
Camarilla | 20.5418 | 20.5633 | 20.5849 | 20.6065 | 20.6281 | 20.6497 | 20.6712 |
Woodie | 20.2534 | 20.4043 | 20.4888 | 20.6397 | 20.7242 | 20.8751 | 20.9596 |
Fibonacci | 20.4153 | 20.5052 | 20.5608 | 20.6507 | 20.7406 | 20.7962 | 20.8861 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 19.7586 | 20.0544 | 20.4564 | 20.7522 | 21.1542 | 21.4500 | 21.8520 |
Camarilla | 20.6666 | 20.7306 | 20.7945 | 20.8585 | 20.9225 | 20.9864 | 21.0504 |
Woodie | 19.8118 | 20.0810 | 20.5096 | 20.7788 | 21.2074 | 21.4766 | 21.9052 |
Fibonacci | 20.0544 | 20.3209 | 20.4856 | 20.7522 | 21.0187 | 21.1834 | 21.4500 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 18.9946 | 19.4432 | 20.1508 | 20.5994 | 21.3070 | 21.7556 | 22.4632 |
Camarilla | 20.5406 | 20.6465 | 20.7525 | 20.8585 | 20.9645 | 21.0705 | 21.1765 |
Woodie | 19.1242 | 19.5080 | 20.2804 | 20.6642 | 21.4366 | 21.8204 | 22.5928 |
Fibonacci | 19.4432 | 19.8848 | 20.1577 | 20.5994 | 21.0410 | 21.3139 | 21.7556 |
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): | 61.25 | |
MACD (12,26,9): | 0.1854 | |
Directional Movement: | 15.8310 | |
AROON (14): | 64.2857 | |
DEMA (21): | 20.6735 | |
Parabolic SAR (0,02-0,02-0,2): | 20.4987 | |
Elder Ray (13): | 0.1465 | |
Super Trend (3,10): | 20.0281 | |
Zig ZAG (10): | 20.8161 | |
VORTEX (21): | 1.0773 | |
Stochastique (14,3,5): | 69.95 | |
TEMA (21): | 20.7953 | |
Williams %R (14): | -18.09 | |
Chande Momentum Oscillator (20): | 0.8821 | |
Repulse (5,40,3): | 1.2285 | |
ROCnROLL: | 1 | |
TRIX (15,9): | 0.1032 | |
Courbe Coppock: | 6.02 |
MA7: | 20.6866 | |
MA20: | 20.3638 | |
MA50: | 20.1287 | |
MA100: | 20.3031 | |
MAexp7: | 20.6781 | |
MAexp20: | 20.4494 | |
MAexp50: | 20.2954 | |
MAexp100: | 20.4830 | |
Price / MA7: | +0.75% | |
Price / MA20: | +2.35% | |
Price / MA50: | +3.54% | |
Price / MA100: | +2.65% | |
Price / MAexp7: | +0.79% | |
Price / MAexp20: | +1.92% | |
Price / MAexp50: | +2.69% | |
Price / MAexp100: | +1.75% |
Quotes :
2021-03-03 15:26:40
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Real time data
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Forex
News
The last news published on USD/MXN at the time of the generation of this analysis was as follows:
- USD/MXN Forecast September 15, 2020
- 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.
About author
I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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