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PHILIPPINE PESO / U.S. DOLLAR

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PHPUSD trade ideas

USDPHP - 14Feb2022USDPHP - 14Feb2022 On the weekly, USDPHP is consolidating and is facing bearish pressure from the 51.52 last week. However, it is still in bullish trend on the higher time frame as it broke out of the triangle for further upside to target around 52.00 On the H1, price is holding above 200MA at 51.20 nicely. If price confirms below the 200MA, we could expect a short-term pull back to H4 1st Support at 51.10. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
USDPHP - 07Feb2022USDPHP - 07Feb2022 USDPHP is indicating mixed signal. On the higher timeframe, it broke above the triangle for further upside to target around 52.00. On the daily, price rebounded after closing below 20EMA. On the H4, price bounced back to neckline of h&s with downside target to around 50.58. As long as price stay below the neckline, we could expect further downside for USDPHP This is for personal record purposes only, not financial advise or solicitation of trade.
Short
by TTMFS
USDPHP - 31Jan2022USDPHP - 31Jan2022 On the weekly, price follow through to the downside after previous week topping tail candle. Even though USDPHP is bullish in the weekly timeframe, we could potentially expect it to pullback retest breakout level at 50.71. On the H4, price broke below the descending trendline. As daily timeframe is currently at support, price could potentially have a short-term bounce to 1st Resistance at 51.22 before dropping lower to 50.71. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
USDPHP - 24Jan2022USDPHP - 24Jan2022 On the weekly, last week candle formed a topping tail. On the daily, price broke out of the triangle pattern with target around 52.00. With last weekly candle, we need to be cautious as price could pull back first to 20EMA support at 51.09 before further upside. On the H4, price dropped to support at 51.20. Market structure have also changed to lower highs and lower lows. If price bounced up to 51.37, we could expect it to face bearish pressure and possibly pull back to 1st Support at 51.09. This is for personal record purposes only, not financial advise or solicitation of trade.
Short
by TTMFS