CUP/EUR Currency Pair Forecast
Weaker technical forecast for CUP/EUR as currency pair downgraded to Sell Candidate.
(Updated on Jun 27, 2024)
The CUP/EUR currency pair price fell by -0.274% on the last day (Thursday, 27th Jun 2024) from 0.0390€ to 0.0389€. During the last trading day the currency pair fluctuated 0.452% from a day low at 0.0388€ to a day high of 0.0390€. The price has been going up and down for this period, and there has been a 0.28% gain 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 CUP/EUR currency pair with a 90% probability to be traded between 0.0380€ and 0.0390€ 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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CUPEUR Signals & Forecast
The CUP/EUR 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 0.0389€ and 0.0386€. A breakdown below any of these levels will issue sell signals. 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. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.274%. Further fall is indicated until a new bottom pivot has been found. 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, June 07, 2024 in the long-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 12 Months
The currency pair had a Golden Star Signal on Friday, June 07, 2024 in the long-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 CUP/EUR currency pair
CUP/EUR finds support from accumulated volume at 0.0389€ 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 0.0002€ between high and low, or 0.452%. For the last week the currency pair has had daily average volatility of 0.483%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CUPEUR) For The Upcoming Trading Day Of Friday 28th
For the upcoming trading day on Friday, 28th we expect CUP/EUR to open at 0.0389€, and during the day (based on 14 day Average True Range), to move between 0.0387€ and 0.0391€, which gives a possible trading interval of +/-0.0002€ (+/-0.51%) up or down from last closing price. If CUP/EUR takes out the full calculated possible swing range there will be an estimated 1.01% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.0389€ (0.03%) than the resistance at 0.0390€ (0.27%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CUP/EUR currency pair A Buy?
CUP/EUR 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. 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 Buy to a Sell candidate.
Current score: -1.234 Sell Candidate Downgraded
Predicted Opening Price for CUP/EUR of Friday, June 28, 2024
Fair opening price June 28, 2024 | Current price |
---|---|
0.0389€ ( 0.0415%) | 0.0389€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CUPEUR
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0391 | 0.493% |
R2 | 0.0390 | 0.321% |
R1 | 0.0390 | 0.214% |
Price | 0.0389 | |
S1 | 0.0389 | -0.131% |
S2 | 0.0388 | -0.238% |
S3 | 0.0388 | -0.410% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 0.0392 | 0.787% |
R2 | 0.0391 | 0.371% |
R1 | 0.0390 | 0.275% |
Price | 0.0389 | |
S1 | 0.0389 | -0.0331% |
S2 | 0.0388 | -0.168% |
S3 | 0.0386 | -0.710% |
FAQ
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