USD/IDR appears to be consolidating within the boundaries of a Symmetrical Triangle chart formation since late November. The US Dollar may be readying to make a key move against the Indonesian Rupiah. If not, taking out the 55.41 – 55.10 support zone exposes the 61.8% Fibonacci retracement level at 54.236.Ĭhart Created in TradingView Indonesian Rupiah Technical Outlook – Neutral Otherwise, clearing higher opens the door to reversing upward. The latter could reinstate the downside focus. Still, prices remain below the 20-day SMA. Since then, there has been cautious upside follow-through. That was a sign of indecision as divergence emerged. Meanwhile, in early December, the pair left behind a Hammer candlestick. Recent lower lows in USD/PHP have been met with positive RSI divergence as well. The US Dollar may also be readying to reverse against the Philippine Peso. USD/SGD Daily ChartĬhart Created in TradingView Philippine Peso Technical Outlook – Neutral Otherwise, key support is the 1.3409 – 1.3381 range below. Upside follow-through, especially if a close is seen above the 20-day Simple Moving Average (SMA), could open the door to extending gains. Meanwhile, the bullish Morning Star candlestick pattern has emerged. That has been creating positive divergence, which is a sign of fading downside momentum that can at time precedes a turn higher. While USD/SGD has been setting lower lows as of late, RSI has not. The US Dollar may be readying to turn higher against the Singapore Dollar. Get My Guide Singapore Dollar Technical Outlook – Neutral
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