USDPHP📈 #USDPHP showing a double top pattern, but don't count it out! 🚀 Bullish bias persists, based on personal view and indicators I use. 📊📈💹 #Forex #Trading #BullishBias #Freelancer
USD remains strong against PHPUSDPHP is currently in a consolidation phase after a run, and retesting its previous resistance, 56.41. If the USD will remain strong against PHP, we can see it will trade up to 57.51 - 57.99 up to 60.
Factors affecting weakening of PHP:
Debt
www.cnnphilippines.com
Rampant corruptions
business.inqu
Possible south target for usd phpThere is a weekly opening gap to the south, and a pin bar allowed prices to go lower in favor of Us ally Philippines and Her peso.
USDPHP (UsDollar Vs Philippine Peso)#USDPHP (UsDollar Vs Philippine Peso) chart is in good demand Area
Entry:55.41
SL:55.06
TP:58.87
RR= 1:10
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Usd php down trendAll info priced in on price.
Here we see price tap the upper trend line in a down phase. And we see 2 cycles confirm our trend.
How will price behave next week?
Philippine peso ceiling and floorCeiling 55.08
Floor 53.65
Price did test the ceiling last week but was rejected. Let us see how price will behave next week.
Usd php trending upAll information priced in. 2 cycles of higher highs lower highs and buyers bar yesterday.
Plan your trade; do not short.
Usd phpThis doesnt mean the php is weak, only that the dollar is strong.
Change in monitary policy is ahead for the us because of yesterday's negative cpi data and their fight to target 2% inflation rate.
Expect dollar to appreciate not in favor of peso.
But for our expats who work outside the ph, this
USD PHP phase 2All is priced in and the trendline is not yet broken. So, we're still in the short so far. unless the trendline is broken and a new higher high lower high appears; we'll be ok to continue the short. just care because the current price is on the buy and more on the short term longs
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