With the unlimited supply from fed and with what happened in the last years we don't now how far this can go and for how long. What we do know is that every country is getting affected differently and at different times.
The Romanian leu continues to drag the US dollar following the failed attempt of bullish investors to regain the momentum. The price should go down to its support level, hitting ranges last seen in September 2018, erasing almost two years-rally by bulls. It’s no new news that the US dollar is currently weakening against most assets because it’s pressured by a ton...
USDRON is currently on a strong 1D selling sequence (RSI = 38.588, MACD = -0.024, ADX = 36.022) that is testing the middle trend-line of its long-term Channel Up. On top of that it has formed a 1D Death Cross (MA50 crossing below the MA200). Last time the pair formed this pattern, the price tested the middle trend-line of the Channel Up but after a rebound to the...
𝔹𝕖𝕗𝕠𝕣𝕖 𝕪𝕠𝕦 𝕣𝕖𝕒𝕕 𝕥𝕙𝕚𝕤 𝕚𝕕𝕖𝕒, 𝕡𝕝𝕖𝕒𝕤𝕖, 𝕔𝕝𝕚𝕔𝕜 𝕥𝕙𝕖 𝐋𝐈𝐊𝐄 𝐛𝐮𝐭𝐭𝐨𝐧 𝕥𝕠 𝕤𝕦𝕡𝕡𝕠𝕣𝕥 𝕞𝕪 𝕨𝕠𝕣𝕜.
𝕀 𝕨𝕠𝕦𝕝𝕕 𝕒𝕡𝕡𝕣𝕖𝕔𝕚𝕒𝕥𝕖 𝕚𝕥.
The pair is expected to continue its upwards movement after it bounced back from an uptrend support line. Romania has been the next target of US militarization. The shift in the US defense strategy comes amid the widening gap in the relationship between Washington...
The pair has started to rebound after last week's Higher Low within the 1M Channel Up (RSI = 61.167, MACD = 0.070, Highs/Lows = 0.0555). The 1D RSI has still room to rise before reaching the 68.35 - 72.00 peak zone. Since every Higher Low within the Channel Up has extended at least a +4.83% we calculate the next Higher High around 4.4500. Our Target Zone is 4.4000...
Pattern: 1D Channel Up.
Signal: Bullish as it is approaching the Higher Low zone of the pattern.
Target: 4.3800 (based on the Higher High dif).
*note if the 1D MA50 breaks potential decline towards the 1D MA200 (strongest long term buy signal).
The price is trading within a 1D Channel Up (RSI = 56.303, MACD = 0.018, B/BP = 0.0098) and is near completing its Higher Low (Highs/Lows = 0.0000). The next Higher High extension should be near 4.18138. Long with TP = 4.16950.
USDRON is consolidating on a Higher Low on the 1D Channel Up (RSI = 54.485, Williams = -49.880, Highs/Lows = 0). Taking a long, TP = 4.04165, but as you see on a very tight SL.
Pros
Correction of the 50% of the last downtrend
Touched the long uptrend
The USD has a strong macro uptrend
Exit from lateral consolidation/triple bottom
Divergences on week chart
The objetive is at 38.2% of the last downtrend
Cons
The last daily candle is bad.
Strategy
Buy a half at market price
Buy the other half on a pullback
USD is tough these days. Any news or tweets can swipe your setup off the ground in a split second. That's why in times like these I look towards less popular pairs. RON have been fairly easy to work with. It just did a second tap on 4.1743 resistance. It might break it and find support at 200MA (short). Or wait to see if it breaks the 10EMA (long). RSI and MACD is...
