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AED/DKK Currency Pair Forecast

kr1.87
-0.0021 (-0.111%)
At Close: May 17, 2024

Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of AEDDKK
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Red day on Friday for AED/DKK currency pair after losing 0.111%
(Updated on May 17, 2024)

Hold candidate since May 16, 2024 Loss -0.11% PDF

The AED/DKK currency pair price fell by -0.111% on the last day (Friday, 17th May 2024) from kr1.87 to kr1.87. During the last trading day the currency pair fluctuated 0.343% from a day low at kr1.87 to a day high of kr1.87. The price has fallen in 6 of the last 10 days and is down by -0.96% for this period. Volume has increased on the last day by 2 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, 56 shares were bought and sold for approximately kr104.56 .

The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect AED/DKK currency pair with a 90% probability to be traded between kr1.86 and kr1.94 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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AEDDKK Signals & Forecast

There are few to no technical positive signals at the moment. The AED/DKK currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at kr1.88 and kr1.88. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -1.78%. 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/DKK 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. The currency pair had a Golden Star Signal on Wednesday, March 20, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.

Buy
Special Signal Notification

Golden Star 12 Months

The currency pair had a Golden Star Signal on Wednesday, March 20, 2024 in the long-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Sell
Special Signal Notification

Double Top Formation

Double Top Formation A sell signal from a double top formation was found on Tuesday, April 16, 2024 and based on theory for this formation the price should fall by -2.80% to kr1.82 within 2 trading days since signal was issued (Monday, May 20, 2024).

Support, Risk & Stop-loss for AED/DKK currency pair

AED/DKK finds support from accumulated volume at kr1.87 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 kr0.0064 between high and low, or 0.343%. For the last week the currency pair has had daily average volatility of 0.83%.

Our recommended stop-loss: kr1.80 (-3.38%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 15 days ago.)

Trading Expectations (AEDDKK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect AED/DKK to open at kr1.87, and during the day (based on 14 day Average True Range), to move between kr1.85 and kr1.89, which gives a possible trading interval of +/-kr0.0197 (+/-1.05%) up or down from last closing price. If AED/DKK takes out the full calculated possible swing range there will be an estimated 2.11% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr1.87 (0.09%) than the resistance at kr1.89 (0.97%), 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/DKK currency pair A Buy?

AED/DKK holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.919 Hold/Accumulate Unchanged

Predicted Opening Price for AED/DKK of Monday, May 20, 2024

Fair opening price May 20, 2024 Current price
kr1.87 ( 0.0917%) kr1.87

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for AEDDKK

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 1.88 0.435 %
R2 1.87 0.304 %
R1 1.87 0.223 %
Current price: 1.87
Support S1 1.87 -0.0394 %
S2 1.86 -0.120 %
S3 1.86 -0.252 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 1.90 1.58 %
R2 1.89 1.34 %
R1 1.89 0.97 %
Current price 1.87
Support S1 1.87 -0.0927%
S2 1.85 -0.683%
S3 1.85 -0.789%

FAQ

What is the symbol for AED/DKK Currency pair and on which exchange is it traded?
The symbol for AED/DKK is AEDDKK and it is traded on the CCY (Forex).

Should I buy or sell AED/DKK Currency pair?
AED/DKK holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

How to buy AED/DKK Currency pair?
AED/DKK Currency pair can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy AED/DKK Currency pair.

What's the current price of AED/DKK Currency pair?
As of the end of day on the May 17, 2024, the price of an AED/DKK (AEDDKK) share was kr1.87.

What is the 52-week high and low for AED/DKK Currency pair?
The 52-week high for AED/DKK Currency pair is kr1.94 and the 52-week low is kr1.77.
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