DKK/AED Currency Pair Forecast
Green day on Tuesday for DKK/AED currency pair after gaining 0.150%
(Updated on Jun 25, 2024)
The DKK/AED currency pair price gained 0.150% on the last trading day (Tuesday, 25th Jun 2024), rising from $0.526 to $0.527. During the last trading day the currency pair fluctuated 0.466% from a day low at $0.526 to a day high of $0.529. The price has fallen in 6 of the last 10 days and is down by -0.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 53 more shares were traded than the day before. In total, 57 shares were bought and sold for approximately $30.05 .
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 DKK/AED currency pair with a 90% probability to be traded between $0.518 and $0.540 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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DKKAED Signals & Forecast
There are mixed signals in the currency pair today. The DKK/AED currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at $0.530. On a fall, the currency pair will find some support from the short-term average at $0.523. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -0.226%. 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). DKK/AED 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.
A sell signal from a double top formation was found on Thursday, June 06, 2024 and based on theory for this formation the price should fall by -3.55% to $0.509 within 17 trading days since signal was issued (Tuesday, July 02, 2024).
Support, Risk & Stop-loss for DKK/AED currency pair
DKK/AED finds support from accumulated volume at $0.527 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 $0.0025 between high and low, or 0.466%. For the last week the currency pair has had daily average volatility of 0.83%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DKKAED) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect DKK/AED to open at $0.527, and during the day (based on 14 day Average True Range), to move between $0.522 and $0.533, which gives a possible trading interval of +/-$0.0056 (+/-1.06%) up or down from last closing price. If DKK/AED takes out the full calculated possible swing range there will be an estimated 2.12% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.527 (0.08%) than the resistance at $0.528 (0.11%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is DKK/AED currency pair A Buy?
DKK/AED 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.
Current score: -2.504 Sell Candidate Unchanged
Predicted Opening Price for DKK/AED of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $0.527 ( 0.0345%) | $0.527 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DKKAED
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.530 | 0.500% |
| R2 | 0.529 | 0.322% |
| R1 | 0.528 | 0.212% |
| Price | 0.527 | |
| S1 | 0.526 | -0.143% |
| S2 | 0.526 | -0.253% |
| S3 | 0.525 | -0.431% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.532 | 0.86% |
| R2 | 0.530 | 0.468% |
| R1 | 0.528 | 0.113% |
| Price | 0.527 | |
| S1 | 0.527 | -0.0762% |
| S2 | 0.527 | -0.0998% |
| S3 | 0.522 | -0.93% |
FAQ
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