COP/DKK Currency Pair Forecast

COP/DKK currency pair upgraded to Buy Candidate.
(Updated on May 17, 2024)

COPDKK Signals & Forecast

The COP/DKK 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 kr0.0018 and kr0.0018. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, April 25, 2024, and so far it has risen 2.47%. Further rise is indicated until a new top pivot has been found. 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. 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.

Support, Risk & Stop-loss for COP/DKK currency pair

COP/DKK finds support from accumulated volume at kr0.0018 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 kr0.00002497 between high and low, or 1.41%. For the last week the currency pair has had daily average volatility of 0.315%

Our recommended stop-loss: kr0.0017 (-4.80%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 26 days ago.)

Trading Expectations (COPDKK) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect COP/DKK to open at kr0.0018, and during the day (based on 14 day Average True Range), to move between kr0.0018 and kr0.0018, which gives a possible trading interval of +/-kr0.00001364 (+/-0.76%) up or down from last closing price. If COP/DKK takes out the full calculated possible swing range there will be an estimated 1.52% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr0.0018 (0.16%) than the support at kr0.0018 (0.27%), 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 COP/DKK currency pair A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for COP/DKK currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.300 Buy Candidate Upgraded

Predicted Opening Price for COP/DKK of Monday, May 20, 2024

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