ARS/MXN Currency Pair Forecast

ARS/MXN currency pair price down 0.595% on Friday
(Updated on Jun 28, 2024)

ARSMXN Signals & Forecast

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. The ARS/MXN 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 $0.0149 and $0.123. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -99.33%. Further fall is indicated until a new bottom pivot has been found. ARS/MXN 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 ARS/MXN currency pair

ARS/MXN finds support from accumulated volume at $0.0127 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 $0.0003 between high and low, or 2.19%. For the last week, the currency pair has had daily average volatility of 1.71%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ARSMXN) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect ARS/MXN to open at $0.0129, and during the day (based on 14 day Average True Range), to move between -$0.0120 and $0.0376, which gives a possible trading interval of +/-$0.0248 (+/-193.94%) up or down from last closing price. If ARS/MXN takes out the full calculated possible swing range there will be an estimated 387.89% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $0.0129 (0.51%) than the support at $0.0127 (1.03%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is ARS/MXN currency pair A Buy?

ARS/MXN 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: -5.875 Strong Sell Candidate Unchanged

Predicted Opening Price for ARS/MXN of Monday, July 1, 2024

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