S&P500 Futures - E-mini vs. Japanese JPY & also Korean KRW , China yuan CNH, Philippine PHP , Thai THB since Feb 16, 2021.
The inverse of the US Dollar Index DXY versus select Asian currencies of Japanese yen JPY, Korean won KRW, Singapore dollar SGD, Malaysian ringgit MYR, Thai baht THB, Philippine peso PHP - note recent trends against trends over the last decade.
Pattern: Channel Down. Signal: (A) Buy as long as the 4 year Support holds. (B) Sell if it breaks. Target: (A) 50.00 (just below the Symmetrical Resistance). (B) 48.00 (the next Support level). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Our indicators are very supportive of reversal here, PHB reached an all time low with the last dive, Bullish divergence on the RSI has appeared, and MACD is out of steam, the bearish momentum is over. I marked the trend lines i found to locate a resistance, you can exit around the red area i marked for easy 35%, but i also support a long term holding from here.
The Peso continues to decline this month. Since the 10% crash from January to February, the long term trend is in a downwards channel. However I believe that it will once again break below the channel and continue to fall. (Click and drag on the price axis to move the chart). Looking at more short term profits: A Head and Shoulders pattern is forming on the...
Not much of an update, rather a look through more. And for the W pattern it is still in play
As I said lately, this will continue going down till it reach the support line. In fact I won't be surprised if this support get pierced and goes in a bit of a sideways then down again, 'cause the Philippine economy is at its prime in this generation, and local media even see risk that this economy would overheat.
The higher the value of USD to PHP means that the economy of the Philippines is going down. People tend to think that if the exchange rate is higher, the better the economy of the country. Noooooo.
The worst performing value for the PHP was recorded on April 18-19, 2004 Asian Session. And marked a high @57.50/72 which later pulled back to close 55.75. And marked as the worst devaluation of the PHP against the USD. Which began drifting thereafter. The pivotal price recovery started @40.15 dated Jan 20, 2008 with a 2nd higher low 42.45 in Nov 11.08, 2010 and...