CZK/NOK Currency Pair Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
CZK/NOK currency pair downgraded to Sell Candidate
(Updated on May 29, 2024)
The CZK/NOK currency pair price fell by -0.0136% on the last day (Wednesday, 29th May 2024) from kr0.462 to kr0.462. During the last trading day the currency pair fluctuated 0.592% from a day low at kr0.460 to a day high of kr0.463. The price has fallen in 7 of the last 10 days and is down by -1.72% for this period. Volume has increased on the last day by 489 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 39 thousand shares were bought and sold for approximately kr17.90 thousand.
The currency pair lies in the lower part of a narrow and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at kr0.462 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the currency pair is expected to rise 3.84% during the next 3 months and, with a 90% probability hold a price between kr0.480 and kr0.495 at the end of this 3-month period.
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CZKNOK Signals & Forecast
There are few to no technical positive signals at the moment. The CZK/NOK 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 kr0.464 and kr0.467. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, May 02, 2024, and so far it has fallen -1.94%. 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). CZK/NOK 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. The currency pair had a Golden Star Signal on Monday, March 11, 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 Monday, March 11, 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 CZK/NOK currency pair
CZK/NOK finds support from accumulated volume at kr0.453 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 kr0.0027 between high and low, or 0.592%. For the last week the currency pair has had daily average volatility of 0.610%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CZKNOK) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect CZK/NOK to open at kr0.462, and during the day (based on 14 day Average True Range), to move between kr0.459 and kr0.465, which gives a possible trading interval of +/-kr0.0032 (+/-0.68%) up or down from last closing price. If CZK/NOK takes out the full calculated possible swing range there will be an estimated 1.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr0.462 (0.07%) than the support at kr0.453 (1.95%), 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 CZK/NOK currency pair A Buy?
The CZK/NOK currency pair holds several negative signals and despite the positive trend, we believe CZK/NOK will perform weakly in the next couple of days or weeks. Therefore, we 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: -2.146 Sell Candidate Downgraded
Predicted Opening Price for CZK/NOK of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| kr0.462 ( 0.103%) | kr0.462 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CZKNOK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.464 | 0.486 % | |
| R2 | 0.463 | 0.261 % | ||
| R1 | 0.463 | 0.122 % | ||
| Current price: | 0.462 | |||
| Support | S1 | 0.461 | -0.328 % | |
| S2 | 0.460 | -0.467 % | ||
| S3 | 0.459 | -0.692 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.470 | 1.76 % | |
| R2 | 0.464 | 0.388 % | ||
| R1 | 0.462 | 0.0742 % | ||
| Current price | 0.462 | |||
| Support | S1 | 0.453 | -1.95% | |
| S2 | 0.449 | -2.76% | ||
| S3 | 0.449 | -2.95% |
FAQ
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