USDKZT - technical ImpulseFrom 550 , a strong impulse moved downward to 498 .
This impulse marks the start of a correction after the dollar had been strengthening since May 2024.
First, we expect a corrective rebound toward 510 (which is already underway), followed by a continuation toward the 525 area.
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Kzt
USDKZT to hit between 474 and 485This oil-related pair is going to complete the wave 4 down reaching minimum area of retracement at 38.2% Fibonacci of wave 3 at 430.
The next support is at 50% at 420.
I see the USDRUB should reverse soon so this pair then is going to follow.
The target for wave 5 is located within 474-485 range.
ridethepig | KZT Spot Commentary 2020.02.12I will keep this one very quick as not much interest in KZT. On the technical side we have a very clean and simple legs to track here, nothing to change my view of the gravitational pull back towards normality circa 310 in the coming weeks. Heavy USD sells continue from locals nad in my books a matter of time before we are -18% from the original entries:
Continuing to remain long Tenge here.







