Is the Colombian Peso digging deeper?
We will try to answer the question many Colombians have at this moment with the crisis, Should I keep my Pesos or do I need to buy US dollars before it is too late? The Colombian Peso is recovering strength after the big gain for the US Dollar to 4117. The fractal is calling 2 high probability iterations depending on time – length and speed in the construction of the current sequence. The upper key level is in 4123, and while the price stays below this level, the time and speed will tell us the iteration in progress. The first one is the blue iteration and this can be completed as 1 low occurred within the attractor and ideal distribution area at 3825 before May 5th. If this is correct, the currency should move up outside the non-trend zone to break 4123 and move to the 1st bullish attractor in 4371 to 4490. But if the price is not able to break the upper key level and instead go lower than 3881, the orange iteration is active and the corrective phase will continue to levels around 3760 to 3481 from Jun 9th to Oct 19th.Back to Blog