CZK/MXN Currency Pair Forecast
CZK/MXN currency pair price ended at $0.744 on Thursday, after gaining 0.528%.
(Updated on May 30, 2024)
The CZK/MXN currency pair price gained 0.528% on the last trading day (Thursday, 30th May 2024), rising from $0.740 to $0.744. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the currency pair fluctuated 0.91% from a day low at $0.740 to a day high of $0.746. The price has risen in 6 of the last 10 days and is up by 1.83% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 526 more shares were traded than the day before. In total, 26 thousand shares were bought and sold for approximately $19.61 thousand.
The currency pair lies in the upper part of a weak rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $0.747 will firstly indicate a stronger rate of rising. Given the current short-term trend, the currency pair is expected to rise 2.81% during the next 3 months and, with a 90% probability hold a price between $0.724 and $0.768 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CZKMXN Signals & Forecast
Mostly positive signals in the chart today. The CZK/MXN 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 $0.736 and $0.728. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 10, 2024, and so far it has risen 7.38%. 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). CZK/MXN has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Wednesday, May 22, 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 Wednesday, May 22, 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 CZK/MXN currency pair
CZK/MXN finds support from accumulated volume at $0.721 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 with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved $0.0067 between high and low, or 0.91%. For the last week the currency pair has had daily average volatility of 0.794%.
Our recommended stop-loss: $0.717 (-3.62%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 68 days ago.)
Trading Expectations (CZKMXN) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect CZK/MXN to open at $0.743, and during the day (based on 14 day Average True Range), to move between $0.737 and $0.750, which gives a possible trading interval of +/-$0.0064 (+/-0.86%) up or down from last closing price. If CZK/MXN takes out the full calculated possible swing range there will be an estimated 1.72% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $0.721, some $0.0231 (3.10%) from the current price of $0.744, our system finds the risk reward attractive.
Is CZK/MXN 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 CZK/MXN currency pair to perform well in the short-term.
Current score: 1.985 Buy Candidate Unchanged
Predicted Opening Price for CZK/MXN of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.743 ( 0.0835%) | $0.744 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CZKMXN
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.750 | 0.82 % | |
| R2 | 0.747 | 0.473 % | ||
| R1 | 0.746 | 0.260 % | ||
| Current price: | 0.744 | |||
| Support | S1 | 0.741 | -0.427 % | |
| S2 | 0.739 | -0.640 % | ||
| S3 | 0.737 | -0.98 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 0.744 | |||
| Support | S1 | 0.721 | -3.10% | |
| S2 | 0.718 | -3.52% | ||
| S3 | 0.716 | -3.74% |
FAQ
Click here for our free guide on how to buy CZK/MXN Currency pair.
