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02.09.202404:56 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of USD/IDR Exotic Currency Pairs, Monday September 02, 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.

Exchange Rates 02.09.2024 analysis

On the 4-hour chart, the Exotic USD/IDR currency pair appears to have a Bullish 123 pattern and a deviation between its price movement and the RSI indicator (5) which gives an indication and confirmation that the USD in the near future has the potential to strengthen against the Garuda currency which has continued to strengthen for the past few days. What will be the confirmation of the continuation of the strengthening of the USD if the level of 15532.88 is successfully broken upwards, then the USD/IDR as long as there is no weakening again below the level of 15289 will continue to strengthen to the level of 15645 as its main target and if the momentum and volatility support it, the level of 16045.95 will be the next target to be aimed for.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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