The volatility of Chilean Peso (#USD/CLP) has made a good chance to get a little bit of the recovery of this economy based on #Commodities
So the divergence wins ! but we cannot sing victory yet... MA of Middle-Term acting as a support, we need to brake the $700 CLP to celebrate ! (MA of Long-term) Y la Divergencia tomo efecto, pero aun es anticipado para cantar victoria, Grafico 4H, MM de MP actuando de soporte . Necesitamos vencer esos $700 (MM de LP)
Divergence on the top of the chart, this pair did not touch the all times high by little, but remember that support and resistance are ZONES ! Les comento una divergencia bajista en la parte alta del gráfico, no tocó el último máximo histórico por poquito, pero recuerden que los soportes y resistencias son ZONAS ! FX_IDC:USDCLP
The 700 is a good point to analize for this pair. If breaks maybe could go for 715, meanwhile if don't, the fall could be to reach last support on 680.
Here we have an update to the USDCLP daily chart...the selloff since the highs in May 2019 looks impulsive in nature and we are forming a very clear 5 wave sequence to the downside. This is implying that there is a meaningful top in place, a break below 675 will open the floodgates for 659 where we may see some consolidation (4th wave) before marking the 'C'...
Nuevamente frente a los $700, este par ha sido muy ciclico en esta lateralizacion que vienen desde Septiembre 18'. Again against the $ 700, this pair has been very cyclical in this period of lateralization, that started at September 18 '. PO: $677.64
Emerging Markets are weak in general, but this is one of those economies that are quite apart of the rest. A very stable country that would benefit from foreign assets stepping out from risk economies like the U.S and Europe. Unfortunately, it's quite difficult to find a broker offering this pair. Learn how to beat the market as Professional Trader with an...
Returning to its bearish path, we started the week drilling the support, if it closes on this level we hope that the fall will deepen ... Alguien pidio los $650 ? Retomando su senda bajista, partimos la semana perforando el soporte, de cerrar asi es esperar que se profundice la caidas... #USDCLP chart
Hey. Check USDCLP. 1W,1M,1D shows that we are inside global bearish flag. But now it's moving down. It comes realistic with thoughts about word crisis.
The exotic crosses USDARS and USDCLP are moving with a positive correlation.
The 2-year lasting correction could be over soon. Candlesticks in wave Y chart the shape of ending diagonal, which is strong reversal sign. Wave Y is already equal to wave W as it means that the USD drop was sufficient. The former major top at the 732 is the minimum target. See related idea in Turkish Lira, it could be similar.