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
ARS/AUD currency pair price down 0.422% on Wednesday
(Updated on Jul 03, 2024)
The ARS/AUD currency pair price fell by -0.422% on the last day (Wednesday, 3rd Jul 2024) from A$0.0016 to A$0.0016. During the last trading day the currency pair fluctuated 1.39% from a day low at A$0.0016 to a day high of A$0.0016. The price has fallen in 4 of the last 10 days but is still up by 55.14% over the past 2 weeks. Volume fell on the last day along with the currency pair, which is actually a good sign as volume should follow the currency pair. On the last day, the trading volume fell by -2 thousand shares and in total, 1 thousand shares were bought and sold for approximately A$1.77 .
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$0.0024 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ARSAUD Signals & Forecast
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$0.0012 and A$0.0014. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Tuesday, July 02, 2024, and so far it has fallen -0.422%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. 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 41.85% to A$0.0023 within 6 trading days (Friday, June 21, 2024) since signal was issued.
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 periodic low trading volume this currency pair is considered to be "very high risk". During the last day, the currency pair moved A$0.00002258 between high and low, or 1.39%. For the last week the currency pair has had daily average volatility of 11.93%.
Our recommended stop-loss: A$0.0016 (-3.84%) (This currency pair has very high daily movements and this gives very high risk. There is a sell signal from a pivot top found 3 days ago.)
Trading Expectations (ARSAUD) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect ARS/AUD to open at A$0.0016, 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 (+/-7.24%) up or down from last closing price. If ARS/AUD takes out the full calculated possible swing range there will be an estimated 14.48% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ A$0.0016, some A$0.00000692 (0.42%) 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.
Current score: 1.137 Buy Candidate Unchanged
Predicted Opening Price for ARS/AUD of Friday, July 5, 2024
| Fair opening price July 5, 2024 | Current price |
|---|---|
| A$0.0016 ( 0.109%) | 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 | 0.0017 | 1.49% |
| R2 | 0.0016 | 0.96% |
| R1 | 0.0016 | 0.637% |
| Price | 0.0016 | |
| S1 | 0.0016 | -0.420% |
| S2 | 0.0016 | -0.746% |
| S3 | 0.0016 | -1.27% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0018 | 9.52% |
| R2 | 0.0018 | 7.98% |
| R1 | 0.0016 | 0.424% |
| Price | 0.0016 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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