The dollar is entering the 40 thousand toman channel under the influence of positive news

According to Iran Economist, the currency and coin market is still under the bombardment of positive news that has been published in the past weeks and it seems that it will continue. The last issue that can accelerate the entry of the dollar into the channel of 40 thousand tomans is the speculation to establish a relationship between the Ansari Exchange of the Emirates and Iran.

In other words, the most important point of the market during the past days is the whispers of establishing a relationship that has been broken for about five years. In the market, it is said that the official page of the Ansari Exchange of the Emirates has announced the beginning of its cooperation with Iranian exchanges to facilitate the transfer of currency after 5 years of suspension of transactions.

* The dollar is trying to stay in the channel of 50 thousand tomans

Due to the fact that it was placed between two holiday days, the Saturday market had low-volume and weak transactions. The dollar price fluctuated between 50,200 and 50,700 tomans on this semi-holiday day.

Brokers and traders of the currency market believe that the market has become theoretical in the last week; Every political official who gives a positive or negative opinion pulls the market after him; For example, when in the absence of news and official positions on the exchange of prisoners between Iran and Western countries, the price of the Herat dollar lost its support level of 51,200 tomans and fell to the bottom of 50,700 tomans.

On the other hand, with John Kirby talking about JCPOA not being on the agenda, it returned to above 51,000.

But the Saturday market, despite the fact that the dollar rate started at 50,700 tomans, continued to return to its lowest level in the past weeks. Traders believe that the reason for this retreat, as stated, is the news of the reopening of the Ansari Exchange of the Emirates.

Traders believe that the continued release of news about international and financial agreements with Western countries and the region can lead to the release of the country’s blocked resources in South Korea and Iraq, and if this happens, the dollar can lose the important floor of 50,200 tomans. and enter the channel of 40 thousand tomans.

* Technical features of the currency market

Technically, the market had two characteristics during the trading of the past days. The first feature was that prices in the market rise to a fixed floor and ceiling, which becomes shorter every day. These ceilings indicate a triangle in the technical chart. Short ceilings show that the higher rate of capacity is decreasing and not increasing.

The second feature of the market is that it has a rental status. In Saturday’s transactions, the cash rate of the market was higher than that of tomorrow, which in itself shows that the volume of tomorrow’s sales in the market is higher. This issue can ultimately lead to a decrease in the price of the currency in the coming days.

A rental market occurs when futures trades have a larger share than cash trades. In this situation, if the desire of tomorrow’s trading is to decrease or the transaction is done below the cash rate, traders expect the price to decrease in the coming days.

* In which direction is the gold and coin market moving?

In the gold market, molten gold technicians believe that the price of a shekel of molten gold has been trading above the floor for two days, and since there has been a gap between the moving average of the medium-term price and the short-term, and due to that, the price of molten gold can increase and towards the price The medium-term moving average moves to close the gap between them.

It is also said in the coin market that the support price is 29 million and 600 thousand tomans and if this limit is lost, the next support is the floor of 29 million, and if this level is lost, the coin can go up to the limit 27 million down.

* We have to wait for a further drop in the price of the dollar

In an interview with Iran Economist, Kamran Rahimi, an expert on the economy of Iran, said about the trend of the currency and coin market: the currency market is in a state of downward fluctuation. If the announced positive news continues, we can hope that the currency market will move down.

He continued: If the market stabilizes below the level of 50,200 tomans, there is a possibility of a return to 49,000 tomans. If the dollar stays above 51 thousand 200 tomans, there is a possibility of strengthening upward fluctuations.

This economic expert emphasized: gold and coins, in addition to being influenced by the currency market, also get prices from the global ounce, both of which are downward components, and it seems that the coin will decrease to the channel of 27 million tomans, and gold is also at the level of 2.3 2.4 million tomans to fluctuate.

Rahimi stated: We have to wait and see if positive news will continue to be published in the coming days. If the country reaches new agreements, we should expect a decrease in exchange rates and gold in the coming days.

Therefore, according to the report, the currency and gold markets have taken a downward trend in the past days and it seems that this decrease will continue. Some optimistic financial market experts believe that the dollar will drop to 46 thousand tomans. These people say that with the decrease in the yield of the dollar compared to the parallel markets, we should see a further decrease in the exchange rate and gold.

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