Why short? 1. Chart downwards from left to right 2. More seller bar than buyer bars 3. Lower highs and lower lows 4. Price under 50 ema and 200 ena 5. New down trend 50 ena and 200 ena not yet crossed 6. Buyer bar end Don't short for daily until a new seller bar shows No signal
The floor is far away. And so price can continue to drop in favor of peso. As the fundamentals of the country is gearing for a strong growth this year.
As momentum backs, will price breach support? As we ended up on a seller's bar one may confirm as market opens on the 4h if it closes as red or green. Take prudent shorts.
Having broken a weekly floor, off to the next we go. As the major trend is down trend. And bar closes in the longer down phase; expect next week to focus more on shorts. May also be a good idea to visit Philippines and enjoy a good vacation.
ALL INFO PRICED IN. After previous trend break, price tried to rally but was halted by the 200 ma, and high were getting lower and low getting lower, only issue is, we're in phase 2, the shorter up phase before the longer down phase. Wait for the setup, when daily closes as red, 4h closes as red, that's the time to find an entry.
Daily highs go lower and lower lows go lower. Based on the previous, the trend is bearish. Thus, if planning to trade, look for short entries.
If and when just one pip pierces the fractal floor; then it's a smooth sail for a stronger peso. Business as usual and returning to normalcy
CEILING HELD for Usd Php making price breached a weaker floor. Only the last floor is left marked by a downward fractal as the last hurdle. Text book short bouncing off the roof. As Filipinos go back to work and students back to school; the machinery of business continue to function as normal. Good signs for Philippines.
Price broke the floor recently and is bouncing back and may break thru next year. Positive outlook in Philippines as the businesses are recovering and proper covid management.
All is expressed in price action. Price went on a strong bear run but went on a pull back. But not yet breaking the ceiling Price. It could be momentum to try and break the floor Price further mode. As the cycle goes, longer first phase, short pull back, longer phase again, short pull back. But here we're only seeing one cycle. If things continue to go...
W1 shows one cycle. But without another, we can't say for certain there's a down trend. D1 shows a break of a previous high, but lacks enough information to establish if there is indeed a trend. Let's wait a few more days and see what price action says and the news. So far, Philippines has been a prime destination for tourism. Expats exchanging dollar to...
Basis. Holidays season for xpats to send dollars to Filipinos. Thus changing a lot of Usd to php. Because of holiday, Filipinos spend to celebrate. Because of spending goods and services increase in demand. A positive outlook. Technicals show divergence in favor of the above.
As DXY starts to weaken and stock markets continue to recover, We also note that even the PHP is starting to gain strength against the dollar. Trend is now shifting towards strengthening peso.
The Philippine peso is not the only currency that is losing its value in recent weeks. Every major currency in the world, including the Japanese yen, and the British pound, and the Euro had taken a beating. Unspeakably, the Euro and is now at parity with the USD. The peso yesterday fell to another all-time low of 59 against the greenback. The dollar just the...
The USD to PHP conversion rate has drastically lost P2 from the average P50 exchange rate before covid-19 pandemic.
Good day, Currently on track to reach 60 for now as trend indicators continue to keep the pair above 58. Also noting that US Feds ain't done yet on rate hikes, expect this to further put a dent on PHP demand.