I think it's time to short the dollar and buy some Kwacha.
Price perfectly bounced off the 200% fib level (K18.94 / $1) on the monthly time frame matching up the same price at 261.8% fib level on the weekly time frame.
Going long term, I am seeing a week dollar and some Kwacha appreciation.
I expected the Kwacha to appreciate to about K17/$1 and K15.41/$1 IF price breaks through the support of the monthly ascending channel .
Disclaimer: This is only an idea and should not be taken as a trading signal.
Price perfectly bounced off the 200% fib level (K18.94 / $1) on the monthly time frame matching up the same price at 261.8% fib level on the weekly time frame.
Going long term, I am seeing a week dollar and some Kwacha appreciation.
I expected the Kwacha to appreciate to about K17/$1 and K15.41/$1 IF price breaks through the support of the monthly ascending channel .
Disclaimer: This is only an idea and should not be taken as a trading signal.