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Technical analysis

16.12.202407:32 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of USD/IDR Exotic Currency Pairs, Monday December 16, 2024.

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Exchange Rates 16.12.2024 analysis

Although on its daily chart the Garuda currency pair often weakens against the USD currency in December, which is currently also confirmed by its price movement which is moving above the WMA (30 Shift 2) which has a slope that slopes upwards and is also confirmed by the appearance of the 123 pattern followed by several Bullish Ross Hook (RH) where currently it seems that the Bearish Mitigation Block level will be tested, but with the appearance of the Rising Wedge pattern and followed by the appearance of deviations between the USD/IDR price movement and the Awesome Oscillator indicator, in the next few days there is the potential for a turning point of weakening in USD/IDR to the level of 15819 and if the momentum and volatility support it, 15419 will be the next target, but all of these scenarios will be canceled by themselves if USD/IDR continues to strengthen until it breaks through and closes above the level of 16329.

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Arief Makmur
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