My Technical Analysis
USD/PHP
Based on my technical analysis and as caused by the ongoing COVID-19 pandemic, I can see that the value of PHP (Philippine Peso) can possibly drop from 47 to 45
Reason:
1) June & July closed below Exponential Moving Average 20 & 50
2) Elliott Wave (4) is a corrective wave. it played out perfectly in Fibonacci retracement
3)Stochastic RSI shows a big drop at 1.0 & MACD is now below -0.1.
Conclusion:
Drop at PHP 47.00 to 45.00
Long Term: Let's get back to PHP 56.00
SHORT THE MARKET
NOT FINANCIAL ADVICE
USD/PHP
Based on my technical analysis and as caused by the ongoing COVID-19 pandemic, I can see that the value of PHP (Philippine Peso) can possibly drop from 47 to 45
Reason:
1) June & July closed below Exponential Moving Average 20 & 50
2) Elliott Wave (4) is a corrective wave. it played out perfectly in Fibonacci retracement
3)Stochastic RSI shows a big drop at 1.0 & MACD is now below -0.1.
Conclusion:
Drop at PHP 47.00 to 45.00
Long Term: Let's get back to PHP 56.00
SHORT THE MARKET
NOT FINANCIAL ADVICE
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.