Time for another UAH crisis
I live in Ukraine and look at the chart regularly, I have decided to share my thoughts on USD/UAH pair
Fundamental Analysis
Ukraine's economy keep on shrinking and our country must pay USD debts to IMF and so on. My country will lose gas transit money, as soon as south stream and nord stream are fully launched and that's a big hit to our economy.
Recently UAH had been strengthening as we had presidential campaign, now running a parliament campaign, which is coming to an end. Politicians spent millions of their USD, converting it to UAH spending on their campaign, so they could go through to a parliament. As it is coming to a finish line, I'am looking bullish on USD and bearish on UAH!
If we look at history on the graph (vertical lines), after government election's UAH only suffered! Especially last election
Technical analysis is on the graph. 5th wave is at 41.77 or even 47 UAH per USD
I really don't want that to happen to my local currency, as it will only mean everyone in my country including me will earn less and have another crisis! So I hope it doesn't happen, but that's my view
PS
Vertical Lines
Black lines - president election
Red lines - parliament election (forgot to mention 2014 election)
Blue Line - world crisis
My twitter @CryptoWolfy7
Tweets are my opinions, not financial advice
Fundamental Analysis
Ukraine's economy keep on shrinking and our country must pay USD debts to IMF and so on. My country will lose gas transit money, as soon as south stream and nord stream are fully launched and that's a big hit to our economy.
Recently UAH had been strengthening as we had presidential campaign, now running a parliament campaign, which is coming to an end. Politicians spent millions of their USD, converting it to UAH spending on their campaign, so they could go through to a parliament. As it is coming to a finish line, I'am looking bullish on USD and bearish on UAH!
If we look at history on the graph (vertical lines), after government election's UAH only suffered! Especially last election
Technical analysis is on the graph. 5th wave is at 41.77 or even 47 UAH per USD
I really don't want that to happen to my local currency, as it will only mean everyone in my country including me will earn less and have another crisis! So I hope it doesn't happen, but that's my view
PS
Vertical Lines
Black lines - president election
Red lines - parliament election (forgot to mention 2014 election)
Blue Line - world crisis
My twitter @CryptoWolfy7
Tweets are my opinions, not financial advice
Trade closed: stop reached