The Philippine peso is likely to remain weak and fall to P53 to $1 by yearend amid contrasting policies of the US Federal Reserve and the Bangko Sentral ng Pilipinas, according to a currency analyst.
21 December 2017 | Tomasz Wisniewski
Gold, after triggering a major sell signal on the 5th of December, went significantly lower but the last few days we had a bullish correction here which aimed the previous broken support. Why correction and not a reversal? Well, the upswing is shaped like a wedge so it promotes the further drop. Yesterday and today, the price tested the 38,2% Fibonacci. Those tests resulted in a bearish bounce so we may be witnessing the end of the correction and a comeback to the main trend (down).