DKK/RUB Currency Pair Forecast
DKK/RUB currency pair price down 0.474% on Thursday
(Updated on May 16, 2024)
The DKK/RUB currency pair price fell by -0.474% on the last day (Thursday, 16th May 2024) from 13.30₽ to 13.24₽. During the last trading day the currency pair fluctuated 1.08% from a day low at 13.17₽ to a day high of 13.32₽. The price has fallen in 6 of the last 10 days but is still up by 0.04% over the past 2 weeks. Volume fell on the last day along with the currency pair, which is actually a good sign as volume should follow the currency pair. On the last day, the trading volume fell by -291 shares and in total, 42 thousand shares were bought and sold for approximately 557.65₽ thousand.
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/RUB currency pair with a 90% probability to be traded between 12.94₽ and 13.36₽ 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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DKKRUB Signals & Forecast
There are mixed signals in the currency pair today. The DKK/RUB 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 13.28₽ and 13.33₽. A break-up above any of these levels will issue buy signals. 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. A buy signal was issued from a pivot bottom point on Tuesday, May 07, 2024, and so far it has risen 0.575%. 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).
A buy signal from a double bottom formation was found on Friday, April 26, 2024 and based on theory for this formation the price should go up by 2.81% to 13.61₽ within 39 trading days since signal was issued (Friday, May 17, 2024).
Support, Risk & Stop-loss for DKK/RUB currency pair
DKK/RUB finds support from accumulated volume at 13.23₽ 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 0.142₽ between high and low, or 1.08%. For the last week the currency pair has had daily average volatility of 0.93%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DKKRUB) For The Upcoming Trading Day Of Friday 17th
For the upcoming trading day on Friday, 17th we expect DKK/RUB to open at 13.24₽, and during the day (based on 14 day Average True Range), to move between 13.08₽ and 13.39₽, which gives a possible trading interval of +/-0.157₽ (+/-1.19%) up or down from last closing price. If DKK/RUB takes out the full calculated possible swing range there will be an estimated 2.37% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 13.23₽ (0.04%) than the resistance at 13.26₽ (0.21%), 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/RUB currency pair A Buy?
DKK/RUB 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: -2.312 Sell Candidate Unchanged
Predicted Opening Price for DKK/RUB of Friday, May 17, 2024
| Fair opening price May 17, 2024 | Current price |
|---|---|
| 13.24₽ ( 0.0439%) | 13.24₽ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DKKRUB
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.38 | 1.11 % | |
| R2 | 13.33 | 0.705 % | ||
| R1 | 13.30 | 0.453 % | ||
| Current price: | 13.24 | |||
| Support | S1 | 13.19 | -0.365 % | |
| S2 | 13.16 | -0.618 % | ||
| S3 | 13.10 | -1.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 13.36 | 0.91 % | |
| R2 | 13.28 | 0.341 % | ||
| R1 | 13.26 | 0.210 % | ||
| Current price | 13.24 | |||
| Support | S1 | 13.23 | -0.0443% | |
| S2 | 13.20 | -0.263% | ||
| S3 | 13.18 | -0.416% |
FAQ
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