USDPHP - 11Apr2022
On the weekly, USDPHP bounced back strongly after dropping to 20EMA + 1st Support at 51.17. If price can close back above 78.6% Fib resistance at 52.24, we could expect price to retest the recent highs.
On the H4, price is bouncing back above the 200MA and is now at 1st Resistance. We could expect price to face bearish pressure at current level and wait out to see whether it will bounce back to retest resistance at 52.25.
This is for personal work record purposes only, not trade / financial advise or solicitation of trade.
On the weekly, USDPHP bounced back strongly after dropping to 20EMA + 1st Support at 51.17. If price can close back above 78.6% Fib resistance at 52.24, we could expect price to retest the recent highs.
On the H4, price is bouncing back above the 200MA and is now at 1st Resistance. We could expect price to face bearish pressure at current level and wait out to see whether it will bounce back to retest resistance at 52.25.
This is for personal work record purposes only, not trade / financial advise or solicitation of trade.