ARS/XAG Currency Pair Forecast
ARS/XAG currency pair upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Jun 28, 2024)
The ARS/XAG currency pair price fell by -0.520% on the last day (Friday, 28th Jun 2024) from $0.00003784 to $0.00003765. During the last trading day the currency pair fluctuated 2.95% from a day low at $0.00003705 to a day high of $0.00003814. The price has been going up and down for this period, and there has been a 0.45% gain for the last 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 -101 shares and in total, 1 thousand shares were bought and sold for approximately $0.0471 .
The currency pair lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the currency pair is expected to fall -15.50% during the next 3 months and, with a 90% probability hold a price between $0.00002741 and $0.00003302 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ARSXAG Signals & Forecast
The ARS/XAG currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.00003746 and $0.00003688. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 7.86%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
Support, Risk & Stop-loss for ARS/XAG currency pair
ARS/XAG finds support from accumulated volume at $0.00003725 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 controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair. During the last day, the currency pair moved $0.00000109 between high and low, or 2.95%. For the last week the currency pair has had daily average volatility of 2.17%.
Our recommended stop-loss: $0.00003616 (-3.94%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (ARSXAG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ARS/XAG to open at $0.00003761, and during the day (based on 14 day Average True Range), to move between $0.00003659 and $0.00003870, which gives a possible trading interval of +/-$0.00000105 (+/-2.79%) up or down from last closing price. If ARS/XAG takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.00003725 (1.06%) than the resistance at $0.00004056 (7.74%), 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/XAG currency pair A Buy?
Several short-term signals are positive, despite the currency pair being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.930 Buy Candidate Upgraded
Predicted Opening Price for ARS/XAG of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.00003761 ( 0.0909%) | $0.00003765 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ARSXAG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00003870 | 2.81% |
| R2 | 0.00003829 | 1.70% |
| R1 | 0.00003803 | 1.02% |
| Price | 0.00003765 | |
| S1 | 0.00003719 | -1.20% |
| S2 | 0.00003694 | -1.88% |
| S3 | 0.00003652 | -2.99% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00004625 | 22.85% |
| R2 | 0.00004197 | 11.49% |
| R1 | 0.00004056 | 7.74% |
| Price | 0.00003765 | |
| S1 | 0.00003725 | -1.06% |
| S2 | 0.00003725 | -1.06% |
| S3 | 0.00003552 | -5.64% |
FAQ
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