BAM/USD Currency Pair Forecast

Red day on Thursday for BAM/USD
(Updated on May 30, 2024)

BAMUSD Signals & Forecast

The BAM/USD currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately $0.552. On a fall, the currency pair will find some support from the long-term average at approximately $0.547. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, May 16, 2024, and so far it has fallen -0.698%. 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 Friday, May 03, 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 BAM/USD currency pair

BAM/USD finds support from accumulated volume at $0.549 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 between high and low, or 0%. For the last week the currency pair has had daily average volatility of 0.0287%

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

Trading Expectations (BAMUSD) For The Upcoming Trading Day Of Friday 31st

For the upcoming trading day on Friday, 31st we expect BAM/USD to open at $0.549, and during the day (based on 14 day Average True Range), to move between $0.548 and $0.551, which gives a possible trading interval of +/-$0.0014 (+/-0.25%) up or down from last closing price. If BAM/USD takes out the full calculated possible swing range there will be an estimated 0.50% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.549 (0.08%) than the resistance at $0.550 (0.20%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is BAM/USD currency pair A Buy?

BAM/USD holds several negative signals and we believe that 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: -1.111 Sell Candidate Unchanged

Predicted Opening Price for BAM/USD of Friday, May 31, 2024

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