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USD/MXN Technical Analysis - USD/MXN Trading: 2022-09-27

USD/MXN Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 20,4

Buy Stop

Below 19,7

Stop Loss

Dmitry Lukashev
Senior Analytical Expert
Articles 1958
RSI Neutral
MACD Neutral
MA(200) Buy
Fractals Buy
Parabolic SAR Buy
Bollinger Bands Buy

USD/MXN Chart Analysis

USD/MXN Chart Analysis

USD/MXN Technical Analysis

On the daily timeframe, USDMXN: D1 is moving towards the upper border of the neutral range. It exceeded the 200-day moving average. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if USDMXN: D1 rises above its most recent high of 20.4. This level can be used as an entry point. Initial risk cap is possible below the Parabolic signal, the lower Bollinger band, the 200-day moving average line and the last 2 lower fractals: 19.7. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (19.7) without activating the order (20.4), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Forex - USD/MXN

The Mexican economy is showing signs of slowing down. Will the USDMXN quotes continue to rise?

The next meeting of the Bank of Mexico will take place on September 29. Since May 2021, he has raised the rate 10 times in a row and now it is 8.5%. Thus, the rate of inflation approached to 8.7% y/y in August this year. This is the highest inflation since 2000. In the first half of September, consumer price growth slowed down a bit. Theoretically, the Bank of Mexico could take a break from raising its rate. Inflation data for all of September will be released on October 7th. Note that Mexico Economic Activity n.s.a. was released on Monday for July, which turned out to be worse than expected. There were also relatively weak indicators of consumer demand last week. September 27 will be published Mexico Unemployment and Trade Balance for August, which may affect the dynamics of the peso. The trade deficit is expected to remain near a record level of $6 billion.

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