Everything seems set down the USDCOP go to the level of 38.2%, wave iv)). So the Colombian currency earn 366 pesos per US dollar, thus the probability of rebound in 2827 forming the wave v)) of 3 looking the maximum 3436. Wave iv)) depends on the EURSUD appreciate a little more, pushing up with this oil.
Last week the dollar broke its medium-term uptrend. With a further rise in rates from the Banco de la República, the intention to enable auction sales with a rise of 3% compared to the TRM average of 20 days and the recovery of oil, vendors will have control of the market during this week. The $ 3,380 is the new resistance level, so while below this level, the...
The inverse correlaion between oil and the dollar remains , therefore fell last week nearly 140 pesos. With falls on Thursday and Friday a pattern of bearish candles known as "Techo en Pinzas" was formed. This move leaves the 3,320 as a resistance . While the dollar does not close above 3,320 , there is a likelihood of a correction towards 3,120 or 3,060 ;...
THE COLOMBIAN PESO HAS BEEN IN THE 2600S ZONE 3 TIMES IN THE LAST 12 YEARS, AND IT HAS NEVER CLOSED ABOVE 2700. WE NEED TO SEE A BOUNCE IN THE PRICE OF OIL, OR AT LEAST SEE IT HANDLE THE 57-60 LEVEL AND EXPECT THE PESO GO TOWARDS ZONES OF 2200 FOR NOW. MAYBE THE POLICY MAKER OF THE COLOMBIA FINDS OUT WHAT IS OBVIUS AND LET THE PESO GET STRONGER AGAINST THE DOLAR....