ROMANIAN LEU / U.S. DOLLAR
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๏ปฟRomania is focusing on how to respond to the impact of pandemicThe Romanian leu manages to gain against the US dollar yesterday and today, but it is widely expected that the buck will still have the upper hand in the coming days. The US dollar to Romanian leu exchange rate should head to its resistance level in the first half of October as bullish investors look to redeem their losses from the initial days of the pandemic. Right now, Romania is closely focusing on how it will respond to the impact of the coronavirus pandemic on its economy. Just recently, i
The Romanian leu continues to drag the US dollarThe 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. Itโs no new news that the US dollar is currently weakening against most assets because itโs pressured by a ton of factors. This includes the political uncertainties ahead of the much-awaited presidential elections in November. In the past, the U
USDRON: Important test ahead for the next 6 months.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 1D MA50, it broke below it and initiated a 6-month bearish sequence towards the bottom of the Channel. Monitor the price action close
This is a LONG idea on USD/RON. Might be right!This is my idea of USD/RON. A beautiful breakout from the beautifully shaped triangle, I bet on hitting the last big resistance zone around 4.55, if it breaks, it will follow the growth to 4.65 -> 4.7 .
I really want to know your opinion on this one. Please comment below!
This is just an idea, please don't follow this, only on your choice. You are responsible for your trading account.
USD/RONHere's my take on USD/RON evolution:
Looking at USD/RON chart the following may be taken into account, from a technical perspective:
* USD has been on an ascending channel (highlighted in gray) vs RON starting Apr'18;
* the 50 day Moving Average (MA) highlighted in dark green has been acting as support since then - 4.5 range;
* the 200 day MA (light green) is huge support - it has never been pierced (currently sitting at around 4.3);
* The graph printed out a huge bull pole (the red ellipse) r
USD/RON is expected to continue its upwards movement๐น๐๐๐ ๐ฃ๐ ๐ช๐ ๐ฆ ๐ฃ๐๐๐ ๐ฅ๐๐๐ค ๐๐๐๐, ๐ก๐๐๐๐ค๐, ๐๐๐๐๐ ๐ฅ๐๐ ๐๐๐๐ ๐๐ฎ๐ญ๐ญ๐จ๐ง ๐ฅ๐ ๐ค๐ฆ๐ก๐ก๐ ๐ฃ๐ฅ ๐๐ช ๐จ๐ ๐ฃ๐.
๐ ๐จ๐ ๐ฆ๐๐ ๐๐ก๐ก๐ฃ๐๐๐๐๐ฅ๐ ๐๐ฅ.
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 and Ankara. The United States was already able to establish a strong relation with the V4 Nations (Hungary, Poland, Czeckia, and Slova
USDRON: Long opportunity on the 1M Channel Up.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 - 4.4500.
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