BMD/BBD Currency Pair Forecast
Weaker technical forecast for BMD/BBD as currency pair downgraded to Sell Candidate.
(Updated on Jun 25, 2024)
The BMD/BBD currency pair price gained 0.0261% on the last trading day (Tuesday, 25th Jun 2024), rising from $1.97 to $1.97. During the last trading day the currency pair fluctuated 0.288% from a day low at $1.97 to a day high of $1.97. The price has been going up and down for this period, and there has been a -0.12% loss for the last 2 weeks.
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect BMD/BBD currency pair with a 90% probability to be traded between $1.96 and $1.97 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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BMDBBD Signals & Forecast
The BMD/BBD currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the currency pair has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $1.97 and $1.97. A breakdown below any of these levels will issue sell signals. 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, June 13, 2024, and so far it has fallen -0.203%. 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 currency pair had a Golden Star Signal on Thursday, April 25, 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 Thursday, April 25, 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 BMD/BBD currency pair
BMD/BBD finds support from accumulated volume at $1.97 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 $0.0057 between high and low, or 0.288%. For the last week the currency pair has had daily average volatility of 0.481%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (BMDBBD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect BMD/BBD to open at $1.97, and during the day (based on 14 day Average True Range), to move between $1.96 and $1.98, which gives a possible trading interval of +/-$0.0096 (+/-0.49%) up or down from last closing price. If BMD/BBD takes out the full calculated possible swing range there will be an estimated 0.98% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $1.97 (0.01%) than the support at $1.97 (0.02%), 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 BMD/BBD currency pair A Buy?
BMD/BBD holds several negative signals and is within a narrow 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. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.803 Sell Candidate Downgraded
Predicted Opening Price for BMD/BBD of Wednesday, June 26, 2024
Fair opening price June 26, 2024 | Current price |
---|---|
$1.97 ( 0.0480%) | $1.97 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for BMDBBD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.97 | 0.335% |
R2 | 1.97 | 0.226% |
R1 | 1.97 | 0.158% |
Price | 1.97 | |
S1 | 1.97 | -0.0618% |
S2 | 1.97 | -0.130% |
S3 | 1.96 | -0.239% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.97 | 0.195% |
R2 | 1.97 | 0.0183% |
R1 | 1.97 | 0.0069% |
Price | 1.97 | |
S1 | 1.97 | -0.0196% |
S2 | 1.97 | -0.0491% |
S3 | 1.97 | -0.0543% |
FAQ
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