USDARS: Target is 18.744
Updated
We are at a very critical juncture in the market, and it's possible to see increased chances of a rally in oil and equities, and probably a dollar decline against emerging markets currencies, at least vs the yen, aussie and canadian.
Argentina's monetary policy might make the selling pressure persist though, and we might see this target hit in little time.
The consequences might be harsh, with price increases, and increased costs for employers, with improbable raises in the minimum wage, or at least not enough to accomodate basic expenses any middle class or lower family might have.
That being said, I will update this chart if I change my view, for now, this is the setup on chart, and what makes sense with my country's fundamentals. Energy costs increase, despite falling crude, add to it rising crude, and it's even worse, so let's see how it pans out.
This was a very rough adjustment, after years of holding a ceiling artificially, which did have its costs too.
Good luck, fellow Argentinians.
Ivan Labrie.
Argentina's monetary policy might make the selling pressure persist though, and we might see this target hit in little time.
The consequences might be harsh, with price increases, and increased costs for employers, with improbable raises in the minimum wage, or at least not enough to accomodate basic expenses any middle class or lower family might have.
That being said, I will update this chart if I change my view, for now, this is the setup on chart, and what makes sense with my country's fundamentals. Energy costs increase, despite falling crude, add to it rising crude, and it's even worse, so let's see how it pans out.
This was a very rough adjustment, after years of holding a ceiling artificially, which did have its costs too.
Good luck, fellow Argentinians.
Ivan Labrie.
Note
Slow and steady climb.Note
No stopping the advance, today we had a peak in bearish sentiment in Argentina, I told many people to hold off from buying dollars today at the high.Maybe we get a retracement a good buying opportunity.
Trade closed manually
See new idea.
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