ARS/CAD Currency Pair Forecast
ARS/CAD currency pair price ended at $0.0010 on Wednesday, after gaining 0.314%.
(Updated on Jun 26, 2024)
The ARS/CAD currency pair price gained 0.314% on the last trading day (Wednesday, 26th Jun 2024), rising from $0.0010 to $0.0010. During the last trading day the currency pair fluctuated 0.461% from a day low at $0.0010 to a day high of $0.0010. The price has been going up and down for this period, and there has been a -1.59% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 49 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $959.71 .
The currency pair lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.0009 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the currency pair is expected to fall -28.15% during the next 3 months and, with a 90% probability hold a price between $0.0006 and $0.0011 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ARSCAD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 25, 2024, and so far it has risen 0.314%. Further rise is indicated until a new top pivot has been found. ARS/CAD 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ARS/CAD 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 $0.0010 and $0.0013. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for ARS/CAD currency pair
ARS/CAD finds support from accumulated volume at $0.0010 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0000044 between high and low, or 0.461%. For the last week, the currency pair has had daily average volatility of 0.635%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ARSCAD) For The Upcoming Trading Day Of Thursday 27th
For the upcoming trading day on Thursday, 27th we expect ARS/CAD to open at $0.0010, and during the day (based on 14 day Average True Range), to move between $0.0009 and $0.0011, which gives a possible trading interval of +/-$0.0001 (+/-10.44%) up or down from last closing price. If ARS/CAD takes out the full calculated possible swing range there will be an estimated 20.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0010 (0.04%) than the resistance at $0.0010 (0.09%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ARS/CAD currency pair A Buy?
ARS/CAD holds several negative signals and is within a very wide 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: -5.849 Strong Sell Candidate Unchanged
Predicted Opening Price for ARS/CAD of Thursday, June 27, 2024
Fair opening price June 27, 2024 | Current price |
---|---|
$0.0010 ( 0.118%) | $0.0010 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARSCAD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0010 | 0.341% |
R2 | 0.0010 | 0.165% |
R1 | 0.0010 | 0.0571% |
Price | 0.0010 | |
S1 | 0.0010 | -0.293% |
S2 | 0.0010 | -0.402% |
S3 | 0.0010 | -0.577% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0010 | 1.73% |
R2 | 0.0010 | 1.62% |
R1 | 0.0010 | 0.0938% |
Price | 0.0010 | |
S1 | 0.0010 | -0.0417% |
S2 | 0.0010 | -0.115% |
S3 | 0.0010 | -0.313% |
FAQ
Click here for our free guide on how to buy ARS/CAD Currency pair.