Not much of an update, rather a look through more. And for the W pattern it is still in play
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.
Now that it's been confirmed we will now see this exchange on a bearish move
The higher the value of USD to PHP means that the economy of the Philippines is going down. People tend to think that if the exchange rate is higher, the better the economy of the country. Noooooo.
My sense is that the USD/PHP is on its last leg up. My sense is that this last run will double top soon and create a rally for the peso back to 47.00 area in 2018. Take profits on USD/PHP.
A simple yet effective approach that main street investors can do to save and grow their earnings while creating wealth like any other investor that started from 1 to 10. EFP Conversion is an alternative form of trading foreign currencies that doesn't have to risk substantial loss. As incremental exchanges can be done depending on their respective schedule of...