AED/BHD Currency Pair Forecast
AED/BHD currency pair price ended at $0.103 on Friday, after losing 0.0439%.
(Updated on May 31, 2024)
The AED/BHD currency pair price fell by -0.0439% on the last day (Friday, 31st May 2024) from $0.103 to $0.103. During the last trading day the currency pair fluctuated 0.193% from a day low at $0.102 to a day high of $0.103. The price has risen in 6 of the last 10 days but is still down by -0.04% for this period. Volume has increased on the last day by 6 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 61 shares were bought and sold for approximately $6.25 .
The currency pairis at the upper part of a narrow and horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $0.103 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect AED/BHD currency pair with a 90% probability to be traded between $0.100 and $0.103 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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AEDBHD Signals & Forecast
The AED/BHD currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the currency pair has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.102 and $0.102. A breakdown below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -0.0527%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). AED/BHD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for AED/BHD currency pair
AED/BHD finds support from accumulated volume at $0.103 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the currency pair tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved $0.0002 between high and low, or 0.193%. For the last week the currency pair has had daily average volatility of 0.565%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AEDBHD) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect AED/BHD to open at $0.103, and during the day (based on 14 day Average True Range), to move between $0.102 and $0.103, which gives a possible trading interval of +/-$0.0006 (+/-0.59%) up or down from last closing price. If AED/BHD takes out the full calculated possible swing range there will be an estimated 1.19% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.103 (0.00%) than the resistance at $0.103 (0.02%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is AED/BHD currency pair A Buy?
AED/BHD holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this currency pair.
Current score: -1.762 Sell Candidate Unchanged
Predicted Opening Price for AED/BHD of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
$0.103 ( 0.0264%) | $0.103 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AEDBHD
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.103 | 0.220 % | |
R2 | 0.103 | 0.146 % | ||
R1 | 0.103 | 0.100 % | ||
Current price: | 0.103 | |||
Support | S1 | 0.102 | -0.0474 % | |
S2 | 0.102 | -0.0929 % | ||
S3 | 0.102 | -0.167 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.103 | 0.0673 % | |
R2 | 0.103 | 0.0527 % | ||
R1 | 0.103 | 0.0238 % | ||
Current price | 0.103 | |||
Support | S1 | 0.103 | -0.0004% | |
S2 | 0.103 | -0.0012% | ||
S3 | 0.102 | -0.0561% |
FAQ
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