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12.11.202405:03 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Tuesday November 12, 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 12.11.2024 analysis

If we look at the daily chart of the exotic currency pair USD/IDR, although it appears to be moving in the Bearish Pitchfork channel harmoniously, there is currently a strengthening correction where the Garuda currency is strengthening against the Greenback, although it is currently weakening again, where this weakening has the potential to bring USD/IDR to the level of 15539.54, but as long as it does not break through and close below the level of 15461 USD/IDR still has the potential to continue strengthening to the level of 15859 and if this level is successfully broken upwards, USD/IDR will continue strengthening to the level of 16087.60 and if the momentum and volatility support it, 16209 will be the next target to be aimed of.

(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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