raserrano

#USDCRC it seems that something is about to happen

Short
FX_IDC:USDCRC   U.S. DOLLAR / COSTA RICAN COLON
Currently getting close to the now feel like psychological level of 583.25 colones it seems that its going to reach it pretty soon, about a week. I also expect the level to be rejected and move down to complete the descending wedge . In this scenario I'm thinking the last chance to buy while it is cheap is prior December the 10th. Another possible scenario is after November the 19th it will hit the trend line of the descending wedge and once again by external pressure recover over the 583 colones level in the coming days, while that would be the official end of the descending wedge I think that it will fail to pass the 575 colones and fall back to the trend line where it should then move heading the 562 colones level and once that is complete it would very much create a new move (looking possible the 589 colones level next, possibly very abruptly).

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