Colombian peso, Following Venezuela
Here my thoughs about the crazy devaluation for the USD/COP.
In the recent Presidential Elections for 2022-2026, for Colombia, Gustavo Petro was Elected as the new president.
Decades ago, Petro was member of the Terrorist Group (M-19), and he participarted on the take of the Palace of Justice.
Petro, was very close to Hugo Chaves (venezuela ex president) and share his COMUNIST idelogy.
Recently he has stated that he to wants re open comercial relationships with Venuelza and Invite to Colombia Nicolas Maduro (current president of Venezuela)
to talk about this topic
Considering an upcoming World Crisis scenario, a Devualation is more likke to increse, reaching new highs,
Theres a Increase on Volatility, and lot of uncertanity.
The WORST could happen, to the Colombian Peso, as Ocurred to the (Venezuelan currency) , devaluations way higher than 1.000%
July 2022>>>There's a Chance of a small corrections on USD/COP on 4.200 , or 4.000
but the Long Term trendline is UPTREND, fundamentals and technicals support this
bias1: Long until new highs get reached and rejected
bias 2: short , for small retracement reching suppor lines,
bias 3. Market ranging between 4.000 - 5.000
In the recent Presidential Elections for 2022-2026, for Colombia, Gustavo Petro was Elected as the new president.
Decades ago, Petro was member of the Terrorist Group (M-19), and he participarted on the take of the Palace of Justice.
Petro, was very close to Hugo Chaves (venezuela ex president) and share his COMUNIST idelogy.
Recently he has stated that he to wants re open comercial relationships with Venuelza and Invite to Colombia Nicolas Maduro (current president of Venezuela)
to talk about this topic
Considering an upcoming World Crisis scenario, a Devualation is more likke to increse, reaching new highs,
Theres a Increase on Volatility, and lot of uncertanity.
The WORST could happen, to the Colombian Peso, as Ocurred to the (Venezuelan currency) , devaluations way higher than 1.000%
July 2022>>>There's a Chance of a small corrections on USD/COP on 4.200 , or 4.000
but the Long Term trendline is UPTREND, fundamentals and technicals support this
bias1: Long until new highs get reached and rejected
bias 2: short , for small retracement reching suppor lines,
bias 3. Market ranging between 4.000 - 5.000
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