Indonesian Rupiah (IDR) ⇨ US Dollar ($) (IDRUSD) Bullish

Indonesian Rupiah (IDR) ⇨ US Dollar ($) (IDRUSD) Bullish

Indonesian Rupiah (IDR) ⇨ US Dollar ($) (IDRUSD) Bullish

Recently, the Indonesian government altered regulations to allow more foreign investment in the sector. Indonesia’s investment service agency only recently allowed 100-percent foreign ownership for investments above 100 billion Indonesian rupiah ($7.53 million) for the establishment of an e-commerce company in the country.

The rupiah was last trading at 13,325 versus the US dollar, 0.2 per cent weaker than Tuesday’s close of 13,295. Indonesian markets were closed on Wednesday.

Overall, the bias in prices is: Sideways.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 13,377.58.

The projected lower bound is: 13,276.34.

The projected closing price is: 13,326.96.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 3 black candles for a net of 2 white candles. During the past 50 bars, there have been 29 white candles and 14 black candles for a net of 15 white candles.

A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).

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 58.8608. This is not an overbought or oversold reading. The last signal was a sell 3 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 54.86. 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 109 period(s) ago. The RSI is between 70 and 30. Open trades should be closely monitored, but new trades should be avoided.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 107.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 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 buy 11 period(s) ago.

Rex Takasugi – TD Profile

FOREX IDR= closed up 1.000 at 13,327.000. Volume was 1% below average (neutral) and Bollinger Bands were 22% narrower than normal.

Open                  High              Low               Close          Volume
13,330.00013   345.00013   325.00013   327.000    102

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

Moving Averages:   10-period   50-period   200-period
Close:                         13,310.70  13,322.00   13,260.98
Volatility:                  3                 2                    4
Volume:                    113              113                115

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= is currently 0.5% above its 200-period moving average and is in an upward trend. Volatility is 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 5 periods. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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