USDPKR Trading at 275
Review: As per last analsys dated Oct 27, 2022 it was expected that move towards 264 - 275 can be witnessed that has been done now.
What Next:
Any fall to 240 - 223 would be limited
We are also expecting it can move to 300 - 313 followed by 330 gradually.
Due to inflation in pakistan the pkr get weak against dollar and other currencies but there are some countries which commited to pay for pak, specialy most of them as i hear news they mentioj the march i will effect the price. The price range is about 240 and 290 the price hold for some times in this range.
USDPKR LONG
LONG BIAS
DOW THEORY: LONG
DIVERGENCE: LONG
TREND LINE: LONG
PARALLEL CHANNEL: LONG
SHORT BIAS
CANDLES: SHORT
FIBONACCI: SHORT (TGT 0.5)
PLAN 1
1. Wait for bullish candles at 215.00
2. If it confirms then take a long position.
3. TP = 226.00
4. SL = Fib 0.5 lvl (210.00).
PLAN 2
1. If the trend line breaks at 215.00 then wait for bullish...
By observing clear patterns of significant increases compared to the corrections its clear that dollar rate may get stabilize in the near future but it would be difficult for dollar rupee pair to go below 200 anytime soon.
PS: its monthly chart which indicates long term behavior.
The 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.
