ARS/AUD Currency Pair Forecast
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:
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
Big movements in ARS/AUD currency pair price on Tuesday moving 56.63% between high and low
(Updated on Jul 02, 2024)
The ARS/AUD currency pair price gained 56.10% on the last trading day (Tuesday, 2nd Jul 2024), rising from A$0.0011 to A$0.0016. During the last trading day the currency pair fluctuated 56.63% from a day low at A$0.0010 to a day high of A$0.0016. The price has fallen in 4 of the last 10 days but is still up by 52.47% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 thousand more shares were traded than the day before. In total, 3 thousand shares were bought and sold for approximately A$5.23 .
The currency pairhas broken the very wide and falling short-term trend up. Firstly a slower falling rate is indicated, but this may very well be an early signal of a trend shift. On the reaction, there will be support on the roof of the current trend broken, which is A$0.0016, a level that may pose a second chance to hit a runner. According to fan-theory A$0.0023 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ARSAUD Signals & Forecast
Mostly positive signals in the chart today. The ARS/AUD 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 A$0.0011 and A$0.0014. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 28, 2024, and so far it has risen 56.10%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). ARS/AUD has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
A buy signal from a double bottom formation was found on Wednesday, June 12, 2024 and based on theory for this formation the price should go up by 41.25% to A$0.0023 within 6 trading days since signal was issued (Friday, June 21, 2024).
Support, Risk & Stop-loss for ARS/AUD currency pair
There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.
This currency pair may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this currency pair is considered to be "very high risk". During the last day, the currency pair moved A$0.0006 between high and low, or 56.63%. For the last week, the currency pair has had daily average volatility of 11.82%.
Our recommended stop-loss: A$0.0016 (-3.70%) (This currency pair has very high daily movements and this gives very high risk. There is a buy signal from a pivot bottom found 11 days ago.)
Trading Expectations (ARSAUD) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect ARS/AUD to open at A$0.0014, and during the day (based on 14 day Average True Range), to move between A$0.0015 and A$0.0018, which gives a possible trading interval of +/-A$0.0001 (+/-7.66%) up or down from last closing price. If ARS/AUD takes out the full calculated possible swing range there will be an estimated 15.31% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ A$0.0018, some A$0.0001 (7.53%) from the current price of A$0.0016, our system finds the risk reward not very attractive.
Is ARS/AUD currency pair A Buy?
Several short-term signals are positive and the break-up from the falling trend indicates a possible shift for a trend. We believe that the prices around the breaking point will indicate particularly good levels, but we also believe that the current level will hold a possible good buy level for the short-term period. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Buy candidate.
Current score: 3.265 Buy Candidate Upgraded
Predicted Opening Price for ARS/AUD of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| A$0.0014 ( 11.92%) | A$0.0016 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARSAUD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0020 | 24.32% |
| R2 | 0.0018 | 10.48% |
| R1 | 0.0017 | 1.93% |
| Price | 0.0016 | |
| S1 | 0.0012 | -25.76% |
| S2 | 0.0011 | -34.32% |
| S3 | 0.0008 | -48.16% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0018 | 9.06% |
| R2 | 0.0018 | 7.75% |
| R1 | 0.0018 | 7.53% |
| Price | 0.0016 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
Click here for our free guide on how to buy ARS/AUD Currency pair.
