EURUAH Euro HryvniaTrading in a range and inside a falling wedge with daily bullish divergences. Break out possible and a retest of the range top is possible.
EURUAH trade ideas
EURUAH D1After a significant drop in oil prices, the dollar strengthened very much against the bulk of world currencies, and continues to grow. The panic with the corono virus creates pressure on many global assets, including oil, whose production is increasing, and demand is falling. The situation in Ukraine is very difficult and in such an environment, the national currency cannot be strong. Since 2014, military operations in the east of Ukraine have been ongoing and no prospects are expected to stop the conflict. Eastern Ukraine in the past was the largest industrial zone of the country, on which the economy was built. At the moment, almost the entire industrial infrastructure in this region is destroyed and the state does not have the opportunity to receive those profits as in past times. The situation with the corono virus exacerbates even more. The country has been quarantined. Public transport and most businesses do not work. Prices for food and pharmaceuticals increased significantly due to the hype. Ukraine’s economy was going through hard times, and now it has completely stopped. This situation will entail a collapse of the hryvnia.
