CLPUSD trade ideas
Hopefully there will be a bounce at USDCLPThe main trend since March'19 is still valid looking at the purple trendline.
There is a down trendline (orange) since the beginning of July that will “crash” with the main trendline.
So hopefully the main trendline will still be valid and there will be at lease a small bounce.
Using the Volume profile I added a red line indicating that I was wrong and that the purple trendline was broken ☹
The main trend since march'19 is still valid looking at the purple trendline
There is a down trendline since the beggining of July
Regards,
Roberto
Quick Analysis of USDCLPAnalysis Explained:
1.- Major Trendline identified.
2.- Support line made using Volume Profile and matches with Fib retracement level 61.8%.
3.- Old minor trendline identified.
4.- Fib Retracement
5.- New minor trendline identified.
Expectations: That the value will go down using the trendline(5) until reach the major trendline (1) or near the support level (2) then it will go up again, this will have to be confirmed with volume.
Please let me know your comments,
RERS
USDCLP - LONG AT 785/7EMA200 : 787
CHANNEL BOTTOM = 785
FIB. -61,8% OF WAVE 3 = 787
BUY AT 785-787
SL 779 TP 860
Regards !
Lithium Needs a Weak DollarChile is one of the world's largest lithium carbonate exporters and they also hold the highest level of lithium reserves. The Chilean Peso / US Dollar pair moving higher provides a substantial tail wind to the industry.
Puntos de Equilibrio del Yankee ChilenoEl punto de equilibrio está en 839.72, los alcistas deben cruzar ese punto. Los más agresivos pueden poner sus ordenes en los puntos de equilibrio de menor escalas de tiempo. Los bajistas deben mantenerse debajo del Kumo y del equilibrio diario en rosado. Por como siento la economía en Chile, creo que este país se irá a la chu’, así que voy al alza, espero que nuestro Banco Central recapacite, compre oro y se deje de inyectar más dólares a la economía, solo se devalúa nuestra propia moneda en favor de dolarucho.
USDCLP - WAIT AND GO LONGSetup on Chart ... correction in process, but after that 900+ is coming .
Regards !
Chile the new TurkeyChilean Peso is Doomed to become the new #TRY. #USDTRY.
Might end up invading Bolivia while Trump Invades Southamerica. For the Resources.
Usdclp ready for 900Recession will kick in with more and more cases of covid19. Orobsbly if we hsve first desd in Chile will jump stronger usdclp. Also stocks should drop due the meassures of the gov with Quarantine. Usa stocks might drop aswell. Dxy above 100 will help support on usdclp.
Rising channelFollow the channel. US30 will tend to support this week and IPSA will follow taking us dollar down. Later this or next week we might hit 844 target.
Usdclp support testedLong usdclp. Target 830 and higher.
Today "first confirmed" coronavirus case will be the perfect excuse for government. Probably due the big Pharma developing Vaccines are in the States.
Truth is Chile External debt is rosing 200 bi. A breack up will trigger big longs against the peso. Expect currencu exchange up to 500% and more higher during next 1-5 years.
Similar to Turkish Lira USDTRY or USDINR or USDARS developments. All with common factor... External debts.
Buy on dipIF central bank intervenes the USD expect some bearishness. If not, still will see some breack of 800 near 793 max bottom then new high.
Usd Chilean & Dow Jones Inverse usd peso chilean is most power of Copper , inverse usd peso chilean antipates copper movement's , Chile is the most important producer of copper in the world , the ratio copper gold is great indicator of interest rates us treasury 10 years , and then the difference yield 10 years - yield 2 years is spread that anticipates bear market , this scheme optimize it .
Crude Oil & Peso Chilean Chile is the most important producer of Copper , the importance of Copper on Thomson Reuters/CoreCommodity .Peso Chilean anticipates Crude Oil .
