USD/IDR keeps following a short-term symmetrical triangle formation since August 13. 61.8% Fibonacci retracement add to the support while 14,420 offers extra resistance. USD/IDR shows little reaction to the previous day’s rate cut by the Bank Indonesia (BI) as it maintains immediate symmetrical triangle formation while taking rounds to 14,240 on early Friday. The BI announced its second 2019 rate cut worth of 0.25% on Thursday. Though, markets shrug-off the news as major attention remains on the Jackson Hole Symposium. The pair follow eight-day-old symmetrical triangle as far as it trades between 14,330 and 14,218, which in turn highlights the requirement of a break above/below the mentioned levels in order to witness trade momentum. On the upside break of 14,330, 23.6% Fibonacci retracement of July-August run-up, around 14,420, holds the gate for the pair’s rally towards the monthly top of 14,583. Alternatively, 61.8% Fibonacci retracement level of 14,150 and 14,000 could please sellers past-14,218. USD/IDR 4-hour chart Trend: Sideways FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USDA Official: China far short of soybean purchase after small sale FX Street 4 years USD/IDR keeps following a short-term symmetrical triangle formation since August 13. 61.8% Fibonacci retracement add to the support while 14,420 offers extra resistance. USD/IDR shows little reaction to the previous day's rate cut by the Bank Indonesia (BI) as it maintains immediate symmetrical triangle formation while taking rounds to 14,240 on early Friday. The BI announced its second 2019 rate cut worth of 0.25% on Thursday. Though, markets shrug-off the news as major attention remains on the Jackson Hole Symposium. The pair follow eight-day-old symmetrical triangle as far as it trades between 14,330 and 14,218, which in turn highlights the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
