According to the Shahr-e-Bourse, a review of currency market transactions shows that Saturday, December 13, was one of the stormiest days for the dollar. The American banknote, which opened the day at 127,685 Tomans, touched a daily high of 128,300 Tomans with a powerful bullish rally and is trading in the 128,220 range at the time of this report.

This sharp 1.96% growth in one day has issued a very strong signal for bullish traders. Technical analysts believe that with the dollar powerfully crossing the 126,000 and 127,000 resistances, the 128,000 range has now turned into a support level. The 5-day moving average also shows 125,167 Tomans, confirming the intensity of buying excitement in the market as the current price distances itself from this average.

To predict the market for tomorrow, Sunday, December 14, maintaining the 128,000 channel is vital. If the price stabilizes above 128,500 in the early hours, new buyers will enter the field to conquer the 130,000 channel. Conversely, if some traders decide to take profits, there is a possibility of a temporary price correction down to the 126,500 range, which was the price floor for the current day.

Also, a fluctuation of more than 10,000 Rials in one day indicates a very high risk of trading during these hours. Experienced traders in such conditions wait for price stabilization. It remains to be seen whether the market maker can pull the brakes on this express train by injecting currency on Sunday, when global markets are closed.

Ultimately, the likely scenario for tomorrow is continued positive fluctuations with a milder slope, unless political news changes expectations.