BRL/RSD Currency Pair Forecast

BRL/RSD currency pair price down 1.60% on Friday
(Updated on Jun 28, 2024)

BRLRSD Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The BRL/RSD currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $19.91 and $20.46. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -9.07%. Further fall is indicated until a new bottom pivot has been found. BRL/RSD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for BRL/RSD currency pair

There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.

In general the currency pair tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved $0.352 between high and low, or 1.80%. For the last week the currency pair has had daily average volatility of 1.55%.

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

Trading Expectations (BRLRSD) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect BRL/RSD to open at $19.64, and during the day (based on 14 day Average True Range), to move between $19.27 and $19.78, which gives a possible trading interval of +/-$0.257 (+/-1.31%) up or down from last closing price. If BRL/RSD takes out the full calculated possible swing range there will be an estimated 2.63% move between the lowest and the highest trading price during the day.

With no support below and resistance from accumulated volume @ $20.93, some $1.41 (7.23%) from the current price of $19.52, our system finds the risk reward not very attractive.

Is BRL/RSD currency pair A Buy?

BRL/RSD 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.

Current score: -3.902 Sell Candidate Unchanged

Predicted Opening Price for BRL/RSD of Monday, July 1, 2024

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