The second downtrend of the dollar price

The second downtrend of the dollar price

Currency traders’ hopes are dashed?

Today, dollar traders will be more inclined to increase remittance rates than ever before. The dirham remittance yesterday, despite the drop in price, once again maintained the psychological limit of 7 thousand tomans, and if the current day can fluctuate above the mentioned limit, it will be very difficult for the dollar to go to lower rates. However, a declining dirham can pave the way for a drop in the price of the dollar to at least 25,200 tomans. Technical traders believed that the first support point of the dollar after losing the range of 25 thousand and 800 Tomans, will be the point of 25 thousand and 500 Tomans, and after that the market can easily fall to 25 thousand and 200 Tomans. However, as long as it keeps the 7,000 toman dirham, it is unlikely that lower market expectations will be further strengthened.

Dollar prices from the channel tangled

In back-line transactions, although the dirham price is still in the range of 7,060 tomans, but some technical analysts believe that 10 minutes of trading below this price in today’s market has the potential to reduce the rate to 7,020 tomans, of course, if the dirham rate can be high. This level can be increased to the level of seven thousand and 120 tomans. The rate, which means the value of 26 thousand tomans in the cash market due to the dirham to the dollar.

Dirham price from Herat canal

In Herat market, the trend of the dollar price is still declining. Currently, the price of the Herat dollar is at the level of 25,400.

The relationship between the dollar in the domestic market and the ounce of gold in world markets

Some activists believe that the fall in the value of the dollar in recent days has been the reaction of some domestic traders to the increase in the price of the global ounce. They believe that the big sellers of the coin market have rushed to the foreign exchange market in order to prevent the increasing effect of gold ounces, and by selling their dollars, they have prevented the increase of prices in the coin market. A person who had sold coins over 12 million Tomans last week, would suffer a heavy loss from the increase in the price of an ounce and the possibility of bringing coins above 12 million and 200 thousand Tomans. As a result, in the eyes of some activists, coin dealers used the leverage of the dollar to offset the rising ounce of gold. Since the global market is closed today, these traders expect that the downward pressure from coin dealers will not be on the dollar; However, the dollar trend has been largely bearish over the past 15 days, making it difficult for foreign exchange market players to expect prices to rise. Of course, in last night transactions, the price was above 25 thousand and 500 tomans, and this factor can make the atmosphere of the beginning of the day different.

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