AUD/XAU Currency Pair Forecast
AUD/XAU currency pair upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The AUD/XAU currency pair price gained 0.348% on the last trading day (Friday, 28th Jun 2024), rising from $0.0003 to $0.0003. During the last trading day the currency pair fluctuated 1.08% from a day low at $0.0003 to a day high of $0.0003. The price has risen in 6 of the last 10 days and is up by 1.09% over the past 2 weeks. Volume fell on the last day by -259 shares and in total, 3 thousand shares were bought and sold for approximately $0.724 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The currency pair lies in the middle of a 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 2.62% during the next 3 months and, with a 90% probability hold a price between $0.0003 and $0.0003 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.
AUDXAU Signals & Forecast
There are mixed signals in the currency pair today. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.87%. 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 during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued. The AUD/XAU 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 $0.0003 and $0.0003. A breakdown below any of these levels will issue sell signals. The currency pair had a Golden Star Signal on Wednesday, May 22, 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 Wednesday, May 22, 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/XAU currency pair
AUD/XAU finds support from accumulated volume at $0.0003 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 $0.00000308 between high and low, or 1.08%. For the last week the currency pair has had daily average volatility of 1.13%
Our recommended stop-loss: $0.0003 (-4.11%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 56 days ago.)
Trading Expectations (AUDXAU) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect AUD/XAU to open at $0.0003, and during the day (based on 14 day Average True Range), to move between $0.0003 and $0.0003, which gives a possible trading interval of +/-$0.00000345 (+/-1.20%) up or down from last closing price. If AUD/XAU takes out the full calculated possible swing range there will be an estimated 2.41% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0003 (0.04%) than the support at $0.0003 (0.35%), 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/XAU currency pair A Buy?
AUD/XAU 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: 0.984 Hold/Accumulate Upgraded
Predicted Opening Price for AUD/XAU of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
$0.0003 ( 0.125%) | $0.0003 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AUDXAU
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0003 | 0.95% |
R2 | 0.0003 | 0.540% |
R1 | 0.0003 | 0.286% |
Price | 0.0003 | |
S1 | 0.0003 | -0.536% |
S2 | 0.0003 | -0.790% |
S3 | 0.0003 | -1.20% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0003 | 0.625% |
R2 | 0.0003 | 0.490% |
R1 | 0.0003 | 0.0440% |
Price | 0.0003 | |
S1 | 0.0003 | -0.347% |
S2 | 0.0003 | -0.457% |
S3 | 0.0003 | -5.66% |
FAQ
Click here for our free guide on how to buy AUD/XAU Currency pair.