USD/PKR medium term target 175Usd/pkr took nice support at 165 levels. With current economic situation on fundamental facts we are anticipating further upside in coming weeks.
PKRUSD trade ideas
The price had broken and retested a strong trendlineThe price had broken and retested a strong trendline, If price respects the current market structure ( & If we dont have an economic fallout) we're looking for dollar to fall back at 108.000 by early 2022.
PKR-USD Chart shows that Pakistani Rupee has massively DeclinedFX_IDC:PKRUSD Chart shows that the relationship between FX_IDC:PKRUSD have gone stronger. PKR has declined massively in past 12 months as per our analysis covering the Tenure of March 2018 to 2019 the period of May to July has shown massive Decline. Perhaps Bailout packages and friendly aid can might help the graph go upwards to a few bars, However the mainstream idea remains bearish against USD as IMF loan approches near we should expect more depreciation to PKR.
The chart shows a little potential gains between 0.0071xx and 0.0073xx However it doesn't seems Promising enough to attract investors.
Current Oscillators are highly on red side the buying orders for rupee are almost zero and if this trend keeps moving forward in next days we can expect a downard hit to 0.0065xx.. so plan wisely
Sometimes you Earn the other times you learn.
happy trading
USDPKR - SHORT signal since 5-Aug. +9% PNL, -0.25% DD * RSI
* Ichimoku
* Fibonacci
* Bollinger bands
Very steady strategy with minimal drawdown showing a short signal with USDPKR, still holding steady meaning the BEAR will pull down at some point.. time to short!
