DKK/PHP Currency Pair Forecast
DKK/PHP currency pair price up 0.190% on Thursday
(Updated on Jun 20, 2024)
The DKK/PHP currency pair price gained 0.190% on the last trading day (Thursday, 20th Jun 2024), rising from $8.43 to $8.45. It has now gained 4 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 0.87% from a day low at $8.42 to a day high of $8.49. The price has been going up and down for this period, and there has been a -1.2% loss for the last 2 weeks. Volume fell on the last day by -530 shares and in total, 7 thousand shares were bought and sold for approximately $55.64 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 $8.41 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 5.37% during the next 3 months and, with a 90% probability hold a price between $8.86 and $9.12 at the end of this 3-month period.
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DKKPHP Signals & Forecast
There are mixed signals in the currency pair today. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -1.50%. 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). 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. The DKK/PHP 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 $8.44 and $8.43. A breakdown below any of these levels will issue sell signals. The currency pair had a Golden Star Signal on Wednesday, December 13, 2023 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, December 13, 2023 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 DKK/PHP currency pair
DKK/PHP finds support from accumulated volume at $8.21 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 $0.0732 between high and low, or 0.87%. For the last week the currency pair has had daily average volatility of 0.636%
Our recommended stop-loss: $8.09 (-4.23%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 37 days ago.)
Trading Expectations (DKKPHP) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect DKK/PHP to open at $8.45, and during the day (based on 14 day Average True Range), to move between $8.36 and $8.53, which gives a possible trading interval of +/-$0.0843 (+/-1.00%) up or down from last closing price. If DKK/PHP takes out the full calculated possible swing range there will be an estimated 2.00% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $8.46 (0.12%) than the support at $8.21 (2.83%), 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 DKK/PHP 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 DKK/PHP currency pair to perform well in the short-term.
Current score: 2.494 Buy Candidate Unchanged
Predicted Opening Price for DKK/PHP of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| $8.45 ( 0.0754%) | $8.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DKKPHP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.52 | 0.94% |
| R2 | 8.50 | 0.611% |
| R1 | 8.48 | 0.406% |
| Price | 8.45 | |
| S1 | 8.42 | -0.255% |
| S2 | 8.41 | -0.460% |
| S3 | 8.38 | -0.791% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 8.51 | 0.737% |
| R2 | 8.48 | 0.354% |
| R1 | 8.46 | 0.119% |
| Price | 8.45 | |
| S1 | 8.21 | -2.83% |
| S2 | 8.18 | -3.19% |
| S3 | 8.11 | -4.01% |
FAQ
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