aibek

USDCLP. Chilean peso could weaken again

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FX_IDC:USDCLP   U.S. DOLLAR / CHILEAN PESO
The 2-year lasting correction could be over soon.
Candlesticks in wave Y chart the shape of ending diagonal, which is strong reversal sign.
Wave Y is already equal to wave W as it means that the USD drop was sufficient.
The former major top at the 732 is the minimum target.

See related idea in Turkish Lira, it could be similar.
Comentarios:
Just to expand the picture I added the MACD sub-chart, which shows a strong Bullish Divergence with the price.
Comentarios:
Almost 1 year passed. Last consolidation before the target would be hit (extended target added).
Comentarios:
USDCLP finished consolidation, now eyes upside
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