It has been some time since I last wrote about the USD-PHP.  Since October 2008, it has been going sideways up to the present.

But what is clear is that from an uptrend, a symmetrical triangle is forming.  Therefore, I am assuming that after the current consolidation, the ascent will continue.

Should the USD breach the 49 peso level, we could probably see this climb up to 52.  How long?  Quite hard to say but it’s very probable that this could happen by year-end.

The moving averages and MACD are both telling us that we are in a consolidation phase and that now is not the time to do anything  but just wait on the sidelines.

It would be best for us to just be patient.

Recommendation: Wait and see
Resistance: 49.00