USD/IDR is trading in the green for the fifth consecutive day and is currently flirting with the upper edge of a bearish channel created over the last six weeks. Daily chart As seen above, the pair is pushing against the channel hurdle of 14,145. A close higher would confirm a violation of the bearish lower highs and lower lows pattern (falling channel) and open the doors to 4,251 (March 29 high). The 14-day relative strength index is already flashing a falling channel breakout. So, USD/IDR looks set to find acceptance above the channel resistance at 14,145. A strong rejection at the channel hurdle, if followed by a quick drop below 14,089 (March 21 low), would weaken the bull case. Trend: Bullish Pivot points 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 Australia-US two-year bond yield spread hits lowest since 1997 FX Street 4 years USD/IDR is trading in the green for the fifth consecutive day and is currently flirting with the upper edge of a bearish channel created over the last six weeks. Daily chart As seen above, the pair is pushing against the channel hurdle of 14,145. A close higher would confirm a violation of the bearish lower highs and lower lows pattern (falling channel) and open the doors to 4,251 (March 29 high). The 14-day relative strength index is already flashing a falling channel breakout. So, USD/IDR looks set to find acceptance above the channel resistance at 14,145. … 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.
