USDPHP 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.inquirer.net
Weekly chart shows that it already broke down its trend support and forming head and shoulders. it would be better if we short now until the elections this coming May
I believe ETHUSD will retest again 38.2 or 50% fibo support. and it should hold to that level.
last level will be 61.8fibo. if it closes below 61.8 fibo(daily timeframe), expect the trend to reverse.
reason:
1.MACD signal to sell
2. candle forming lower high
3. low volume
4. RSI starting to move low.
