USDISK is gonna fly to the moon, again...
After applying a fixed Gann sqaure to Icelandic krona weekly chart, we seem to have arrived to the start of a new Gann wave, which if correlated with 2 previous waves, should be a much steeper run to a new high at about 156 or higher. Ichimoku elements show bullish momentum as well (amazing how well Ichimoku aligns with Gann square ). Even if we take into consideration solely a double bottom (W pattern), price should hit 120 (the length of W move) pretty soon. USDISK´s rise aligns well with our DXY 0.00% 0.00% 0.00% ( dollar index -0.27% -0.27% -0.27% ) Gann projection, which is only to strengthen this year. One thing I do not understand, why does not Iceland´s government replace ISK (which as volatile as crude or bitcoin) with a more stable currency like EUR. Theu could have done so a long time ago, being EEA member.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.