1. Multiple strong Bullish divergence on RSI and MACD
2. Descending squeezing wedge
3. Possible Bullish Bat
-There was some difficulty in wear to set the point X when I was harmonic hunting. I decided on this date to be valid due to a previous higher high and lower low cycle. This date from point X looks to be an entirely new cycle. FEEDBACK IS APPRECIATED.
USD may get to 3.72 PEN by mid June 2021,, and depending on the internal situation in Peru (pandemic, curfews, general elections, return of tourism, among other hard-to-predict factors) price may skyrocket or get back to 3.60 if proper economic measures are to be taken in order to bring back dollars in the street and expedite economy.
Following the same trend of different countries in South America and the misgovernment of leftist, progressive and liberals politicians in charge of such countries, we noticed the depreciation of another south american currency.
EL ANÁLISIS FUNDAMENTAL NOS DICE QUE EL DÓLAR SOL ABRIRÍA AL ALZA DEBIDO A LA INESTABILIDAD POLÍTICA Y SOCIAL, SON BUENAS OPORTUNIDADES PARA COMPRA DE DÓLARES EN SOLES HASTA QUE LLEGUE AL PRECIO DE 3.6577, DESPUÉS POR LOS ESTÍMULOS DEL BCR Y EL ANÁLISIS TÉCNICO NOS DICE QUE ESTOS PARES DE DIVISA SE PREPARARÍAN PARA UNA VENTA SWING A PARTIR DEL PRECIO 3.6577 DEBIDO...
The current political situation in Peru has The Fed's Peruvian branch scrambling to stabilize the Nuevo Sol as capital flees to USD.
There could be long term implications for gold, silver and copper concerns in the Andes with the accompanying supply and price reactions.
Pattern: Triangle on 1D.
Signal: Buy if the Triangle breaks upwards or if the price touches the 1D MA200.
Target: 3.6200 (+8.50% from the recent low).
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Here we can see the 5th wave targets for this large sequence. From a birds eye view we have the potential to extend as high as 3.67 over the next few quarters.
Recommend buying support here at current prices with targets at 3.49 up to 3.67.
Best of luck