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...
After testing the bottom of the wedge around 562.5 colones it makes total sense that it will get started in its recovery.
One year ago around August 20th the level was about the same, this has been a common pattern to end the year. The reason behind this has to do with a increase in purchases and more money flooding the economy as the year ends. Many company...
Its been almost a year since it was so low, in the local economy you are suppose to be happy as with less hard earned colones you will get more dollars and given that it is almost 50 colones difference its something like a 10% discount in dollars. From the financial sector that the country benefits the most which are closely related with tourism there is a...
The move should keep on going down within the descending channel towards the weekly levels of 575 and 568 and will most likely test the monthly support level of 562 which is really a psychological level in terms that its been a long while since #USDCRC pair last traded that low. If the 562 monthly level is tested and rejected a new move will probably start and a...
This is one of those rare cases where the #USDCRC pair is placed in a position that will get you some profit no matter what happens. Currently it is moving downwards towards the 583 level it will meet a trend and possibly break towards an accumulation phase that will try to get back to the monthly level of 589. If the move cannot keep the trend and keeps falling...
