USD/PHP (PHP=X) Signs of Weakness, Correction to 52.00
The Philippine peso depreciated against the dollar on Thursday, tracking other regional currencies, as higher US Treasury yields buoyed the dollar.
The local currency lost 10.5 centavos to close at P52.49:$1 from 52.385 on Wednesday.
Overall, the bias in prices is: Sideways.
By the way, prices are vulnerable to a correction towards 51.99.
The projected upper bound is: 52.94.
The projected lower bound is: 52.05.
The projected closing price is: 52.50.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 28.9759. This is not an overbought or oversold reading. The last signal was a sell 16 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 56.11. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 76 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 1. This is not a topping or bottoming area. The last signal was a sell 6 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 2 period(s) ago.
Rex Takasugi – TD Profile
FOREX PHP= closed up 0.105 at 52.490. Volume was 40% above average (neutral) and Bollinger Bands were 48% narrower than normal.
Open High Low Close Volume___
52.385 52.610 52.366 52.490 5,265
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 52.51 52.15 51.39
Volatility: 3 5 6
Volume: 4,596 3,670 3,785
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX PHP= is currently 2.1% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of PHP= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on PHP= and have had this outlook for the last 18 periods.
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