Indonesian Rupiah (IDR) ⇨ US Dollar ($)(IDRUSD) Latest Update

Indonesian Rupiah (IDR) ⇨ US Dollar ($)(IDRUSD) Latest Update
Indonesian Rupiah (IDR) ⇨ US Dollar ($)(IDRUSD) Latest Update

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

By the way, prices are vulnerable to a correction towards 13,325.84.

The projected upper bound is: 13,345.64.

The projected lower bound is: 13,240.44.

The projected closing price is: 13,293.04.

Candlesticks
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 3 black candles for a net of 3 white candles. During the past 50 bars, there have been 28 white candles and 15 black candles for a net of 13 white candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 6 falling windows in the last 50 candles–this makes the current falling window even more bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 21.9355. This is not an overbought or oversold reading. The last signal was a buy 0 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 44.65. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 124 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -84. This is not a topping or bottoming area. The last signal was a buy 3 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 5 period(s) ago.

Rex Takasugi – TD Profile

FOREX IDR= closed down -13.000 at 13,294.000. Volume was 48% above average (neutral) and Bollinger Bands were 16% narrower than normal.

Open              High                 Low               Close                Volume
13,300.000   13,300.000    13,288.000   13,294.000    154

Technical Outlook
Short Term:               Neutral
Intermediate Term: Bullish
Long Term:                Bullish

Moving Averages: 10-period     50-period    200-period
Close:                       13,311.20     13,311.14     13,276.37
Volatility:                3                    3                   4
Volume:                   117                115               112

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX IDR= gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
FOREX IDR= is currently 0.1% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of IDR= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on IDR= and have had this outlook for the last 20 periods. The security price has set a new 14-period low while our momentum oscillator has not. This is a bullish divergence.

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John Heffernan

John Heffernan is a Junior Analyst at HEFFX. John is studying Economics and is a contributor on equities at Live Trading News.

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