The strong move of Rupiah since May'19 at Rp14,500 against US Dollar should continue after Rupiah Break Support at Rp13,900.
Rupiah gave 2 indications it is on Downtrend moves: when Rupiah failed to rise above Rp14,300 (Aug'19) and again failed to rise above Rp14,200 (Oct'19).
Once Break Support, Rupiah could continue strengthening to Rp13,600 and will stay at Downtrend.
Despite all the news in Indonesia, we can look at the chart that IDR weakening to USD. USDIDR now at 14110. facing its near resistance at 14134 then 14183, 14200. If price can break above this area, most likely it will test 14280.
Melanjuti ulasan USDIDR kami sebelumya dimana sempat disebutkan bahwa jika harga terus berada di atas level 14200 akan membuka pergerakan bullish bagi USDIDR yang berarti jelek bagi IHSG, ternyata hal baik terjadi.
USDIDR bukan menguat malahan melemah dan saat ini turun mencapai level 13895. Level ini merupakan level support kuat yang tercapai untuk...
The movement of US Dollar to Rupiah seems in the end of consolidation? After 3x the price breaks the trend line, according to the fan principle theory, the third will be a strong confirmation. We see that US dollar will strengthen toward Rupiah to upper consolidation range 14525 - 14550. If US Dollar then breaks 14550, seems the USDIDR will rally.
- Currently the price is moving inside the Rising Wedge on weekly timeframe and looks like it trying to broke the 1st trendline. Invalidated if the price managed to hold 13200 price for a long time and expect a sideway price movement in between fibonacci line .
- Breaking the 2nd up trend line (bright yellow line) would be devastating for this currency..
After following the temporary uptrend and counter downtrend, Rupiah will still face heavy pressure on trade deficit, China-USA Trade War & Uncertainty in the nation's economic outlook specifically on the FDI policy.