Dollar price forecast tomorrow, Wednesday, October 22, 1405; Will the dollar continue to fall tomorrow?

The price of the dollar reached the range of 257 thousand tomans in trading on Tuesday 21 October 1405 with the continuation of the downward trend. The statements of the Governor of the Central Bank and the news regarding the continuation of the exchange of messages between Iran and the United States have strengthened expectations of a decrease; But the direction of the market on Wednesday depends on the amount of supply, demand and political news.

Sefir Arjan-Economic Group: The price of the dollar retreated to the range of 257 thousand Tomans after opening at the level of 259 thousand Tomans on Tuesday, October 21, 1405. This note was closed on Monday at the rate of 261 thousand tomans, and as a result, the currency market experienced a decrease of 4 thousand tomans in Tuesday's transactions.

The decrease in purchase demand, the statements of Abdul Naser Hemmati, the head of the central bank, about the possibility of the exchange rate falling, and the news related to the continuation of the exchange of messages between Iran and the United States, were among the factors that affected the trading process.

However, the continued pressure of sanctions and the uncertainty of the outcome of diplomatic developments have made the outlook of the currency market still uncertain.

The statements of the head of the central bank about the actions of this institution to control the market and the expectation of a further decrease in the price of the currency have been among the factors that have strengthened the expectations of a decrease in recent days. These statements were made in a situation where the dollar was already trading at higher levels and some traders expected a further increase in the price.

In the field of foreign policy, Esmail Beqaei, the spokesman of the Ministry of Foreign Affairs, announced the continuation of the exchange of messages between Iran and the United States through mediators and announced that Tehran is examining the response of the American side to Iran's proposals. However, disagreements about the terms of the negotiations still exist and it is not possible to talk about reaching a definitive agreement.

On the other hand, the news of new British sanctions against Iran also shows that foreign risks are still present in the economic environment of the country. Therefore, although recent signals have helped to strengthen expectations of a reduction, the continuation of this trend depends on further developments in the market and foreign policy.

Based on the scenarios presented in the foreign exchange market report, the range of 257 thousand tomans will be one of the important levels for dollar transactions on Wednesday. If this level is maintained and sales pressure decreases, there is a possibility of price fluctuation in the range of 257 to 260 thousand Tomans. Returning to the range of 261,000 Tomans also requires an increase in demand or a weakening of bearish signals.

In the bearish scenario, if the supply of currency continues and political news reinforces expectations of a decrease, breaking the range of 257 thousand tomans can provide the basis for a price drop to the range of 255 to 256 thousand tomans. If the selling pressure continues, the range of 252 to 253 thousand Tomans can be considered as a lower level.

On the other hand, publishing negative news about negotiations or reducing the effectiveness of foreign exchange policies can increase purchasing demand. In this situation, the dollar will cross the channel of 260 thousand tomans and move towards the range of 261 to 263 thousand tomans.

These ranges are possible market scenarios, not definitive prices; The trading trend on Wednesday depends on the behavior of buyers and sellers, the amount of supply and new news.

After the retreat of the dollar price in Monday trading, the currency market is facing an important support range on the eve of Tuesday. Declining demand, market-making supply, and diplomatic developments can determine the next path of the American bill; But holding the current support or breaking it paint two different scenarios for trading ahead.

The price of the dollar decreased on Sunday, October 19, 1405; The decrease in market maker's demand and supply, along with political uncertainties, has made the foreign exchange market outlook on Monday uncertain.

The dollar price was in a sensitive range in trading on Wednesday, October 8; Where the decrease in the acceleration of the ascent on the one hand and the permanence of the rate at higher levels on the other hand have complicated the market equations for Thursday. Traders are now looking at some key levels and signals that could determine the next direction of the US dollar. Read tomorrow's dollar price forecast below.