Its coming dowwwnnnn. Faster than we thought. Lets hope 280-285 fib zone will hold. But gut says 260 is highly likely. Lets go
As a follow up to previous. Seems like trendline support finally lost it. (312) next initial support will be at 285. Subsequently 265-260 golden pocket levels. Do not ignore the bullish divergence being made at weekly and daily time formats. There will be a good trading oppertunity.
USDPKR is closely following USDLKR before the Sri Lankan Rupee hyperinflated in April 2022. Below USDLKR can be seen creating a pattern in 2020 and 2021 very similar to what FX_IDC:USDPKR has been doing in the last year. Here is what happened after Sri Lanka defaulted, and FX_IDC:USDLKR went from 200 to 360 in a matter of days Given the above...
USDLKR chart shows more down trend possibility if 312 trendline support losses. MACD opens up further should find support roughly around 285 it it breaks.! **Do not this is not a investment advise, LKR-USD rate can vary due to multiple geopolitical reasons overnight**
Sri Lankan Rupee for example, building a monthly reversal pattern there. Four days to the close.. Long way down for USD..