UP ShortDaily highs go lower and lower lows go lower. Based on the previous, the trend is bearish. Thus, if planning to trade, look for short entries.
PHPUSD trade ideas
UP fractal down last barrierIf and when just one pip pierces the fractal floor; then it's a smooth sail for a stronger peso.
Business as usual and returning to normalcy
UP bounced for a short CEILING HELD for Usd Php making price breached a weaker floor. Only the last floor is left marked by a downward fractal as the last hurdle.
Text book short bouncing off the roof.
As Filipinos go back to work and students back to school; the machinery of business continue to function as normal.
Good signs for Philippines.
Php broke thru daily key resist and is testing for a bounce Price broke the floor recently and is bouncing back and may break thru next year.
Positive outlook in Philippines as the businesses are recovering and proper covid management.
USD PHPAll is expressed in price action.
Price went on a strong bear run but went on a pull back. But not yet breaking the ceiling Price. It could be momentum to try and break the floor Price further mode. As the cycle goes, longer first phase, short pull back, longer phase again, short pull back.
But here we're only seeing one cycle. If things continue to go bearish, then we can establish a proper big trend.
W1 possible start of down trendW1 shows one cycle. But without another, we can't say for certain there's a down trend.
D1 shows a break of a previous high, but lacks enough information to establish if there is indeed a trend.
Let's wait a few more days and see what price action says and the news.
So far, Philippines has been a prime destination for tourism. Expats exchanging dollar to peso for their families. Filipinos spending for the holidays driving the economic machinery.
USD PHP php may go downBasis. Holidays season for xpats to send dollars to Filipinos. Thus changing a lot of Usd to php. Because of holiday, Filipinos spend to celebrate. Because of spending goods and services increase in demand. A positive outlook.
Technicals show divergence in favor of the above.
USDPHP is now Strengthening.As DXY starts to weaken and stock markets continue to recover, We also note that even the PHP is starting to gain strength against the dollar. Trend is now shifting towards strengthening peso.
USDPHPHELLO GUYS THIS MY IDEA 💡ABOUT USDPHP is nice to see strong volume area....
FOR MORE SHARING IDEAS LIKE AND FOLLOW
TURTLE TRADER 🐢
Is the Philippine Peso Inherently Weak?The Philippine peso is not the only currency that is losing its value in recent weeks. Every major currency in the world, including the Japanese yen, and the British pound, and the Euro had taken a beating. Unspeakably, the Euro and is now at parity with the USD.
The peso yesterday fell to another all-time low of 59 against the greenback.
The dollar just the other day touched a 37-year high against the pound sterling of the UK.
HENCE: Peso- Weak because the dollar is strong? Or inherently weak?
Graduate school economics teaches that a currency loses its value against the US dollar for any of the following reasons:
1 Domestic political turmoil that results in a capital flight and loss of investor confidence.
2. Economy is close to collapsing because of dubious policies. Think Argentina or Zimbabwe's rapid inflation where values eroded by the day.
3. The US Federal Reserve Board, or the US central bank, continues raising interest rates and executes quantitative tightening to stop inflation in the US
Arguably, #2 and #3 apply for the Philippines' financial woes. Wealth fund managers gravitate toward the US dollar because of higher returns than those offered by other currencies. Global and local Businesses had either closed down or pulled out of the nation dude to a persistent lack of infrastructure or hostile business registration policies that make operations difficult. Notice how Citibank, Ministop and luxury car brands have shuttered? The recent government drive to implement Return to Office was intended to jump start real estate lease and acquisition. However this placed a toll on workers and industries incapable of supporting the influx of a commuting public.
RATES RATES RATES
The interest rates in the US may increase to above 5 % next year and persist till inflation ends. Locally, the Bangko Sentral ng Pilipinas has raised the local interest rate to 3.75 percent in its own fight against rising inflation.
The US dollar, via mechanisms such as US Treasury Bills, will draw foreign money because of better yields. The peso and Asian currencies will remain weak unless their interest rates are priced higher than those offered by dollar-based financial instruments.
SOLUTIONS?
The local Central Bank does not predetermine a price of Peso maintained. Rates moves dynamically with respect to economic developments. To maintain growth, the Philippines has raised imports since its productive capacity is still lagging due to COVID-19’s shocks. This weakened the Peso
Crushing pressure on the peso came from increased speculation on commodity prices; these prevailing conditions have further depreciated the peso.
There is upside. A weak peso implies that demand for PH exports may increase. OFWs, paid in dollars, will find that their salaries are now worth more in Philippine pesos. GNP will increase.
Domestic constraints limit the gains. The Philippines is not a producer and is remains an importer. The increase in foreign remittances received by OFWs’ families are offset by rising prices of imported basic goods such as rice (?!) and oil.
The clobbered peso implies foreign debt more difficult to repay. As of last year, the Philippines’ foreign obligations stood at $106.43 billion, 55.4% of which is denominated in the US dollar. Our gross national reserves had been depleted.
Given the mixed consequences of the peso’s weakening, the BSP’s response is vital in effectively mitigating the negative effects. Furthermore, revitalizating industries with tax perks and enhanced infrastructure may stem the bleed.
Philippine Peso / United States Dollar (Aug 11-12)The USD to PHP conversion rate has drastically lost P2 from the average P50 exchange rate before covid-19 pandemic.
USDPHP Continues to weakenGood day,
Currently on track to reach 60 for now as trend indicators continue to keep the pair above 58. Also noting that US Feds ain't done yet on rate hikes, expect this to further put a dent on PHP demand.
#USD is the next #bubble | $USDPHP | Elliott Wave in weekly TF$USDPHP | Elliott Wave Principle in Weekly Timeframe | Forecast
This week marks the hit of our parallel channel Zigzag correction for WaveB SUPERCYCLE. This tell's us that USDPHP is currently at parallel resistance. once the rejection starts, we can see that USDPHP will go around 55-54php per US dollar as alternation of correction suggested a Zigzag correction within its degree as sub-rule of Elliott Wave Theory.
After the correction to 55-54php, It's projected to continue it's uptrend up to 61php per dollar. It will also show exhaustion of the market and complete its WaveB Expanding flat correction on a SUPERCYCLE degree. If my SUPERCYCLE count is correct, we can expect a great deflation of the US dollar in the next 6-10 years. and exchange rate around 36-34php per dollar also as to FILL the GAP on 1998.
Please see my SUPERCYCLE count in the comment 👇
#elliottician #fillthegap #USD is the next #bubble
USD PHPTechnical analysis looks at the price movement of a security and uses this data to attempt to predict future price movements. Fundamental analysis instead looks at economic and financial factors that influence a business.
USD-PHPTechnical analysis looks at the price movement of a security and uses this data to attempt to predict future price movements. Fundamental analysis instead looks at economic and financial factors that influence a business.
USD PHP MASSIVE BEARISH DIVERGENCEA bearish divergence is a pattern that occurs when the price reaches higher highs, while the technical indicator makes lower highs. Although there is a bullish attitude on the market, the discrepancy means that the momentum is slowing. Therefore it is likely that there will be a rapid decline in price (google copy paste).
USD-PHP 4H CHARTUSD - PHP CHART
DECREASING RSI + INCREASING PRICE = BEARISH DIVERGENCE
A bearish divergence is a pattern that occurs when the price reaches higher highs, while the technical indicator makes lower highs. Although there is a bullish attitude on the market, the discrepancy means that the momentum is slowing. Therefore it is likely that there will be a rapid decline in price. (GOOGLE COPY PASTE)
USD/PHPMost likely a correction will come in very soon.
The political pressure to overvalue the USD, just because of the interests on loan can't simulate a strong currency alone.
Anyhow the targets have been reached and according to several indicators, its time for a correction to lower re-enries.
USDPHP - 29Apr2022USDPHP - 29Apr2022
On the H4, USDPHP is facing bearish pressure from the H4 & H1 trendlines. H1 h&s still intact and we could expect further downside to target at around 51.92. If price bounce above both trendlines, h&s will be invalidated.
Disclaimer: This is for personal work record purposes only, not trade / financial advise or solicitation of trade.
USDPHP - 26Apr2022USDPHP - 26Apr2022
On the H4, USDPHP is pulling back after all the price action and indicators are siding towards short-term top. The price is current at H1 200MA + trendline support. We could expect a short-term bounce based on H1 price action. Noting Daily Stochastic is still at resistance and we could expect deeper pullback.
Disclaimer: This is for personal work record purposes only, not trade / financial advise or solicitation of trade.
USDPHP - 25Apr2022USDPHP - 25Apr2022
On the weekly, USDPHP retested and faced bearish pressure at the recent highs around 52.56. However its Daily Stochastic is still at resistance.
On the H4, price rebounded near the 23.6% Fib retracement and 50MA at around 52.20. If price drop, we could expect it to found strong support around 200MA + 1st Support around 51.99. If price bounce higher, we will need to wait and see whether price can break above this level.
This is for personal work record purposes only, not trade / financial advise or solicitation of trade.
