USDPHP
USDPHP - 13Oct2021USDPHP - 13Oct2021
On H4, USDPHP is still hanging onto support from the MAs while facing resistance from the descending trendline resistance. A short term bounce to 50.83 before continuing to pull back to 50.54.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDPHP - 12Oct2021USDPHP - 12Oct2021
On H4, USDPHP is consolidating at descending trendline, closely monitoring to see whether it can close above. If it close above, it will swing towards 1st Resistance.
Failing to, will drop to 1st Support
This is for personal record purposes only, not financial advise or solicitation of trade.
USDPHP - 11Oct2021USDPHP - 11Oct2021
On H4, USDPHP is consolidating at previous breakdown level, we could expect it to drop to retest 1st Support. Stochastic is also indicating bearish momentum.
There is also a slight possibility for the price to retest weekly 1st Support at 49.72 this week.
This is for personal record purposes only, not financial advise or solicitation of trade.
USDPHP - 08Oct2021USDPHP - 08Oct2021
USDPHP plunged yesterday and found support at 50.21. We could expect it to retest 1st Resistance at 50.57 before dropping back down to retest 1st Support again at 50.21.
We could expect further downside in USDPHP until RSI come into support at around 37.28
This is for personal record purposes only, not financial advise or solicitation of trade.
USDPHP Trading planPattern: Channel Down.
Signal: (A) Buy as long as the 4 year Support holds. (B) Sell if it breaks.
Target: (A) 50.00 (just below the Symmetrical Resistance). (B) 48.00 (the next Support level).
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UPDATE(IN DEPTH VIEW) ON USDPHP:As I said lately, this will continue going down till it reach the support line. In fact I won't be surprised if this support get pierced and goes in a bit of a sideways then down again, 'cause the Philippine economy is at its prime in this generation, and local media even see risk that this economy would overheat.
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