USDUAH -either the economy improves in Ukraine and the dollar falls
or the second option from this level is a new growth cycle;
In Ukraine, changes in monetary circulation, which will take place in the near future.
There will be a new banknote 1000UAH
1,2,5 kopecks will be gone from use already tomorrow
I live in Ukraine and look at the chart regularly, I have decided to share my thoughts on USD/UAH pair
Fundamental Analysis
Ukraine's economy keep on shrinking and our country must pay USD debts to IMF and so on. My country will lose gas transit money, as soon as south stream and nord stream are fully launched and that's a big hit to our economy.
Recently UAH had...
The National Bank of Ukraine lowered its benchmark interest rate by 50 bps to 17 percent on July 18th of 2019, surprising markets who expected a 25bps reduction. It was the second rate cut this year, bringing borrowing costs to its lowest since June of 2018 and in line with reaching inflation target of 5%. Now price is 25.40 against USD. pattern wedge, which...
The hryvnia (UAH) continues to trade sideways while in consolidation in the "no trade zone." Recently, the currency strengthened against the dollar (USD) and initially it looked like an opportunity to go long on the USD. However, the weekly EMA50 (which historically has provided support for the USD) turned into resistance, broke the 3 year trendline, and now we...
Ukraine's Hryvnia looks poised for a reversal to the downside on the weekly and lower timeframes against the dollar. There could be a 5-8% trade in here.
1) RSI is currently indicating a trend change.
2) Price action is currently indicating a trend change
3) Volume profile is quite high which could indicate traders are soaking up USD by trading in their UAH as...
The price have strong resistance at ±28.5,every time when the price reach this target it goes down immediately.
We see clear hidden divergence with MACD indicator. USD/UAH going down to 26 at least. Stoploss you can put at 29 usd/uah. In case of rise higher 29 (with massive volume only) and close weekly candle above this price, I will update trade idea.
Good Luck
Taking into account the fact that the world economy will suffer in a few years I expect some kind of this movement to appear on USD/UAH . There are a lot of variants since Elliott's Wave Theory is just a theory , but this one is my main one.https://www.tradingview.com/x/d5hZrBK6/
Due to the potential explosive situation in Syria, Russia might come back to haunt the Ukranians and take more territory.
On the technical side of things we see a possible rejection of the Bearish MACD crossover on the Daily chart.
To be watched, this might surge.
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