An projection of USDKES based on EW and trend. Current down move is fading and that could mark the end of the correction at 138.33 with a possible decline to 123 before the continuation of the uptrend. Targets as follows:
T1:163
T2: 191.6
T3:122.0
the kenyan shilling should be gaining against the usd due to factors like reduce in the monthly demand for dollars to purchase petroleum products , kenya has entered a deal with aramco to source the products using kenyan shillings , when initially we had to consolidate 500millon dollars per month for the importation of the same , on friday the deputy presint of...
120.00 is the recent peak exchange rate for the US dollar against the Kenyan Shilling. For years on end, the Kenyan shilling has devalued against the US dollar, The incessant bull run can be attributed to a number of factors: - First, the strength of the US dollar. Second, is the weakening shilling.
The US economy may very well be headed to an economic recession...
The Kenya shilling has been facing a lot of headwinds, and with the central bank maintaining its monetary policy stance and keeping interest rates at the current rate, plus it is an election year, I see the shilling weakening further.
USDKES has been uptrending since January 2020.
USDKES held that low of Ksh 106.60 created in December 2020.
we might see a push to the upside circa Ksh 110.12 and if breaks this resistance zone at KSh 110.12 it will push up towards the highs of December 2020 circa Ksh 111.54
After the 5 impulsive waves we should expect ABC correction considering elections are to be held in 2022. We can note that during corrections is when elections phase is in play
USDKES has been in a sideways movement since the high close of november 2020
it been ranging between 109.17 ksh to 110 ksh.
waiting for a break above to test that high wick of 111.52 ksh in december 2020.
our economy has taken a hit since corona virus disrupted businesses and jobs.
