As everyone has been saying, USDARS will likely get close to the $50 mark, a 2W timeframe Time@mode signal kicked off, and it's already active for 2 bars, out of 10 that are forecasted as part of the uptrend. This rally has 3 possible targets which are laid out on chart, valid for as long as the time lasts, or as long as USDARS trades above the 37 mark. I wouldn't reccomend to hold ARS for long if you have income in pesos.
Best of luck,
Ivan Labrie.
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"El que avisa no traiciona"
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Up to date chart implies price will fall 10% or as much as back to 36 ish over the course of 19 weeks.
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Interestingly, this aligns with the election date...Scary.
Hopefully, whoever wins does a proper job reducing inflation (and taxation).
This last weekly bar might be signaling the bottom in USDARS. I hope I'm reading it wrong and the bearish trend continues but for now it's risky to stay in ARS. Safest bet is to divest from Argentinian currency and own XAUUSD and/or BTCUSD, along with US equities (low debt, high yield names).
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I was dead right about the bottom...sadly.
Trend is up, nothing changed or will change, unless Alberto Fernandez REALLY surprises investors.
sorry to say, don't you live in Argentina?
It looks so terrible..
apart from taking a profit in the fx market, a currency ARS peso looks so unstable.. surely having its economy recessed..
wish Argentina would get stabilized near future..
IvanLabrie
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@tlzkrh1029, yes, cost of money surged, impossible to have a profitable business abiding by the tax law, country in recession, people's purchasing power dropped huge, everyone miserable, huge inequality that got worse. No single government has done any good to the economy in ages, practically forever. Locally, people have a binary political vision, but both alternatives are the same bs. In fact, no one understands economics, and just go by 'hey but I had a bit more money in guy A or B's presidency'. Main problem is in short:
-Central bank debasing currency constantly to fuel the government in turn's extravagant economic recipes.
-Governments simply want to stay in power longer, so, keep people miserable and dependent, give them just enough free sh## to keep them alive but poor.
-Education opportunities and quality sucks.
-Huge corruption and mafias in control of the country that are almost impossible to get rid of.
-Tax law is destructive, no way to be a succesful entrepreneur locally. Rates too high to get loans, very easy to sue employers into bankruptcy if you're an employee with ill intentions...
-State employees make too much $
-Public expenses are too damn high
-etc
KLYP_Investment
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@IvanLabrie, Situation worse than my thought.. currency ratio certainly so important..
Living in south korea, In my opinion, USDKRW pair looks not good.. just like on the verge of huge breakout
In my country, recently left wing government has raised minimun wage up to 30% just within 2 years, not in 20years. haha
IMHO that policy forces domestic inflation bursted someday..
And that policy will have much effect on USDKRW.. making korean WON so much debased..
IvanLabrie
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@tlzkrh1029, yes, that seems risky...long BTCKRW ;)
Damians
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Since 2008 the argentinian peso has lost %1600 purchasing power ...