For Traders

Analytical Reviews

Technical analysis

29.04.202411:52 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs , Monday April 29, 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Even though the condition on the daily chart of the exotic currency pair USD/IDR is in a strengthening condition, the emergence of a deviation pattern between the USD/IDR price movement and the Stochastic Oscillator indicator as well as the presence of the Bearish 123 pattern which was formed from last week's price movement gives a strong indication that in In the next few days, as long as it does not strengthen again until it breaks above level 16284.26, USD/IDR has the potential to be corrected to weaken down to level 16139 and if this level is successfully broken below, the next level to be aimed at is 15551.30 which will be the next target to aim for.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.