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With the appearance of the Bullish 123 pattern in the midst of the weakening conditions of this exotic currency pair, that has been confirmed by the movement of the USD/IDR price which is moving within the Equisidant channel that has a decreasing slope, but when the pattern is formed and the channel is successfully broken, plus the movement of the USD/IDR price which is also above the WMA (21) the slope is also diving upwards and supported by the Stochastic Oscillator condition which is currently in a BUY Crossing condition, then in the next few days the USD/IDR has the potential to appreciate and strengthen upwards where the level of 16374.62 will be tested to be broken and close above it. If it is successful, the USD/IDR will continue to strengthen to the level of 16473.27 and if the volatility and momentum of its strengthening support it will push this exotic currency pair towards the level of 16538.46, but if on its way to the targets of these levels, the USD/IDR suddenly weakens again until it breaks through and closes below the level. 16149.00 then all previously described strengthening scenarios will become invalid and automatically canceled.
(Disclaimer)
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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