If 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
Expecting 9.4 to 9.6 short term gains in price atleast. Fundamentals are strong. People need electricity and good dividends. 5year earning yield of 13.22% Definitely one of those which stood the test of the pandemic.
Double bottom occurred a few weeks ago hence the price went up but now it meets the ceiling prices. The issue here therefore is will it break thru or bounce downwards. One thing for sure, brk is fundamentally strong.
Weekly support and resist being tested where a double bottom formed. This may be a signal for a long position.
Within the range of expectation. Prices continue to rise in favor of Gbp versus Usd. Wicks show spikes of sentiment based on fundamentals causing volatility but the trend is still there.
All information priced in. Weekly shows clear movement of downtrend. Lower highs to lower lows. Ride the bear down.
Mr forex market tests the heart of each trader but takes no offense or has any ill intent. He offers what he thinks is best and sells it as he pleases. He follows the uptrend for eu for now as the closing prices keep increasing and the previous lows are respected. Only when he feels excited does he sends out the high test and lowes test bars but still closing...
Here is a closer look on the 4h downward triangle and line tracement of the prediction, where we expect price to meet the ceiling. If price exceeds the ceiling or the floor, then we will adjust our analysis.
As all information are priced in, the current price is now locked in a downward triangle pattern subject to break out up or down. It is now consolidating after the effects of fundamental news causing volatile up and down. For us, the attitude is go have no bias and see where it goes based on technicals and wait for a pattern to emerge outside of the triangle to...
We're in neutral ground by latest low and previous low broken again. Eu is consolidating into a flag while the charts still show a bull from past data; human herd mentality may take bear atleast in the short term. Have no expectations and wait for a pattern.
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.
Bar broke thru the trend line and says hi. As all information is priced in, current price rises in the trend favoring eu. The test is if it beats the previous fractal high.
As positive sentiment for the yuan is in place, it'll continue down but first it must pass the test for the top and latest resistance and once it bounces off that and goes further down the channel, its home free. This is provided they confirm and continue with catering to the public sentiment.
All information priced in. The recently broken low is plain to see. And such is being tested since us information is positive. But unlike euro, the yen is more resilient at this time. The zone horizontal may be were prices may bounce until it decides to go further down. Or eventually go up going back to the ceiling making it a floor again. My bias is it'll go lower.
All is priced in. Eu may bounce along the support channel as the end of the daily fractal boogie served as resistance. If we break thru the upper horizontal resistance, our uptrend may continue. But if we further break downwards, then we're in for a new trend. This is the way. Have no expectations and let the price lead you thru the technicals.
It may also be interpreted that the price corrected the original channel. There is still hope for an uptrend. The range is simply larger than originally thought.
Not something I expected but price broke support, which means change in trend. I can only attribute it to herd mentality where everyone sees it high up and it should eventually fall. A new start.
As all information is priced in, We now see a possible start for the up phase in h4 in eu.