“Hi Marvin, I ‘m scared about what’s happening in the Philippines right now. I was planning to go home in 4 years but all news is making me a bit tense. I just want to know how far can the Peso slide? Thank you.
Calvin, 48, Dubai, UAE
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To those who want to take it a notch higher and want a good foundation in stock trading and investing. I would like to invite you to our live seminars in Metro Manila, Singapore, Australia, UAE, Cebu and Davao. The heart of why I do this seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! This is my passion and this is what I want to do over and over! To bring more consumers to investors! We will be teaching different techniques from how to select the right stocks up to how to find the perfect timing in buying and selling stocks.
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I normally post stock charts but because of the numerous questions I got about the USD vs the PHP and its relevance to what’s happening in today’s market, here’s a technical snapshot of what’s happening to the PHP.
1. As of this writing, the USD is bullish against the PHP, all technical indicators at this point, point toward the USD appreciating even further.
2. Something significant happened after it broke the 48 Peso level. This range has was never broken in i think more than 7 years already. (Let me double check on how long). This means that the USD is on a breakout.
3. Should this breakout progress, the USD may go as high over the short term to 50. Which is the next resistance level. Should 50 be broken, 52-53 may be the next resistance. However, I think should things escalate further, the BSP will also step in to protect the PHP.
4. Should 48 not hold in the next few days, there is a possibility that the PHP could appreciate back to 47.5, specially if the BSP intervenes.
Let me end with this, Psalm 91: 5-7 (NLT)
“Do not be afraid of the terrors of the night, nor the arrow that flies in the day. Do not dread the disease that stalks in darkness, nor the disaster that strikes at midday. Though a thousand fall at your side, though ten thousand are dying around you, these evils will not touch you.”
This is aimed to help investors have a holistic sense on how they can grow, maximize, and preserve their wealth!(Stock Smarts Book 4 is also coming this year) I also feature other books in my website with authors that I respect which have different expertise in Finance, Business, Investing and everything else in between.
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