AUD/USD 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
AUD/USD currency pair upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Jun 24, 2024)
The AUD/USD currency pair price fell by -0.123% on the last day (Monday, 24th Jun 2024) from $0.664 to $0.663. During the last trading day the currency pair fluctuated 0.240% from a day low at $0.663 to a day high of $0.664. The price has risen in 6 of the last 10 days and is up by 0.4% 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 -115 thousand shares and in total, 36 thousand shares were bought and sold for approximately $24.18 thousand.
The currency pair lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the currency pair is expected to rise 2.65% during the next 3 months and, with a 90% probability hold a price between $0.670 and $0.694 at the end of this 3-month period.
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AUDUSD Signals & Forecast
There are mixed signals in the currency pair today. The AUD/USD currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at $0.664. On a fall, the currency pair will find some support from the short-term average at $0.663. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Friday, May 17, 2024, and so far it has fallen -0.91%. Further fall is indicated until a new bottom pivot has been found. 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. The currency pair had a Golden Star Signal on Monday, June 17, 2024 in the short-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Golden Star
The currency pair had a Golden Star Signal on Monday, June 17, 2024 in the short-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the currency pair in question.
Support, Risk & Stop-loss for AUD/USD currency pair
AUD/USD finds support from accumulated volume at $0.661 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 very controlled movements and therefore the general risk is considered very 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 $0.0016 between high and low, or 0.240%. For the last week the currency pair has had daily average volatility of 0.490%
Our recommended stop-loss: $0.634 (-4.41%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 40 days ago.)
Trading Expectations (AUDUSD) For The Upcoming Trading Day Of Tuesday 25th
For the upcoming trading day on Tuesday, 25th we expect AUD/USD to open at $0.663, and during the day (based on 14 day Average True Range), to move between $0.660 and $0.667, which gives a possible trading interval of +/-$0.0037 (+/-0.55%) up or down from last closing price. If AUD/USD takes out the full calculated possible swing range there will be an estimated 1.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.664 (0.03%) than the support at $0.661 (0.30%), 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 AUD/USD currency pair A Buy?
AUD/USD holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.444 Hold/Accumulate Upgraded
Predicted Opening Price for AUD/USD of Tuesday, June 25, 2024
| Fair opening price June 25, 2024 | Current price |
|---|---|
| $0.663 ( 0.0005%) | $0.663 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.665 | 0.239% |
| R2 | 0.664 | 0.148% |
| R1 | 0.664 | 0.0911% |
| Price | 0.663 | |
| S1 | 0.663 | -0.0921% |
| S2 | 0.662 | -0.149% |
| S3 | 0.662 | -0.240% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.666 | 0.351% |
| R2 | 0.666 | 0.344% |
| R1 | 0.664 | 0.0317% |
| Price | 0.663 | |
| S1 | 0.661 | -0.303% |
| S2 | 0.647 | -2.52% |
| S3 | 0.642 | -3.20% |
FAQ
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