Taking advantage of the exchange rate / conversion of a weaker Philippine Peso against both the USD and the Yen.
Although, the technical formation based on the chart below signifies a Candlestick Tweezer Top have been driven by the market liquidation due to the shortened trading week and relative position adjustments as the end of the 1st quarter trading came to a close. However, a 'Cluster bar' formation would be expected entering into the new month of April as it attempts to raise the bar.
Sequence Update:
Similar to the formation of the USD as it consolidates in search of the bottom. Hence the daily chart shows the similarity of the price action between the USDJPY and USD Index - DXY can be viewed from a comparative analysis.
Sequence Update:
Similar to the formation of the USD as it consolidates in search of the bottom. Hence the daily chart shows the similarity of the price action between the USDJPY and USD Index - DXY can be viewed from a comparative analysis.
A test nearest and / or above the JPY/PHP cross rate would be at 0.5030 or the equivalent of PHP50.30 +/- well within the 2nd quarter of 2018. And after #USDPHP breaks above 52.75 - 53.10 the first 2-3 weeks of April 2018. As the #USD would gain lost ground especially when #DXY goes above the 90.10/20 and break higher at 90.55 basis point range levels.
The distinction of being an accredited investor / trader having access to EBS '#NEX #MARKETS' #UK, trading in #ASIAN - Emerging Currency Markets - #NDFs would be a great way of improving investment portfolio. With the #EBS Direct platforms are indeed more viable to trade nowadays; as deeper access to liquidity markets are suitable for current market conditions that may not be available in other market exchanges.
With Reference to:
The knowledge of the Foreign exchange market can be a dynamic medium for investing and trading the traditional methods which #Asian #US #PH #OFWs / investors and traders can do instead.
We're staying on course with the DX Futures into the long weekend and the first two to three weeks of the new month starting the 2nd quarter trading. Have a great long week ahead!
ReplyDeleteThe last week of March have been better for the #USD as it closes for the 1st quarter with sentiments a bit positive which may spill over to the 1st two weeks of April trading. When volumes picks up after a shortened week trading we can expect a gradual buildup for the USD as it retest its high. 90.10/20 - 90.55 above are the prices to watch for.
ReplyDeleteLikewise, watch how #Gold and #Oil prices behaves as price swings are flirting on their respective resistances that draws a pullback swing lower every time it touches key resistance areas of USD1350/60 and USD67.00 nearing the USD70.00 /bbl As #precious #metals #GOLD, #Oil and #commodity #currencies are more influential to the USD price action.
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USD DXY is gaining ground at 90.45 basis point as of the US early trading session. With the DOW in triple digits at 24462, along side with the SP500 at 2656 and NASD above the 7k mark handle.
ReplyDeleteThe first two weeks as we stated is crucial for the USD to maintain above these levels with substantial volumes to justify the market call as of March 29 capitalizing on the DX Futures to cover lost ground.
Meanwhile, USDPHP is in correction mode, USDJPY above 107.45 and the JPYPHP would eventually move towards its objective thereafter well within the period coverage stated.