things are getting heated up in USD/LKR charts.. Spot prices bounced up from 0.5 fib levels as expected, while making a possible Dead cat bounce/bull trap following activation of weekly and daily bullish divergence.
Spot prices may get resistance at 312-315 range.
Its always good to tally your macro findings when checking USD/LKR charts. A simple announcement...
As a follow up to previous. Seems like trendline support finally lost it. (312)
next initial support will be at 285. Subsequently 265-260 golden pocket levels.
Do not ignore the bullish divergence being made at weekly and daily time formats.
There will be a good trading oppertunity.
USDLKR chart shows more down trend possibility if 312 trendline support losses.
MACD opens up further
should find support roughly around 285 it it breaks.!
**Do not this is not a investment advise, LKR-USD rate can vary due to multiple geopolitical reasons overnight**
Check out the trade plan for USDLKR today based on the technical analysis. Hope this analysis is useful, make sure to hit the thumbs and also follow my tradingview profile for future updates. Thank you!
We have seen an 83% of boost in the USD/LKR Pair since March 2022. Here I have attached the chart and update for reference👇🏻
Sri Lanka pegged in both directions...
