the Colombian peso is causing the dollar to bounce back, and this may be due to the economic tension with Ecuador regarding imports and exports, as well as the energy struggle for power supply and the trafficking of Colombian crude through Ecuadorian territory. This has slightly supported the dollar since Ecuador is dollarized. However, how much more will this bounce occur? Let’s look at the chart in 4 hours to determine some aspects. The price has slightly recovered just below 3700 and remains under pressure from the 200-period average enough to determine that the bearish trend persists at least in a higher timeframe, the chartist structure of the bounce is still not serious and needs to consolidate that range more or break the average strongly and consolidate above 3700 if it wants to make a structural change and take a bullish attitude. However, for now, we can see the MACD, the RSI, and the wm+r at a point of exhaustion but not entirely, which indicates that it may attempt to break the resistance with the probability of returning to the bearish channel until consolidating to trap volume that allows it to decide the new movement.
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