DKK/RUB 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
DKK/RUB currency pair downgraded to Strong Sell Candidate
(Updated on Jun 13, 2024)
The DKK/RUB currency pair price fell by -1.33% on the last day (Thursday, 13th Jun 2024) from 12.90₽ to 12.72₽. During the last trading day the currency pair fluctuated 7.31% from a day low at 12.39₽ to a day high of 13.29₽. The price has fallen in 5 of the last 10 days and is down by -3.07% for this period. 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 -2 thousand shares and in total, 45 thousand shares were bought and sold for approximately 575.28₽ thousand.
The currency pair has broken the narrow and falling short-term trend down. Firstly a stronger fallrate is indicated, but false breaks and "sell-off" may occur. However, a further fall is realistic and any reactions back to the breaking point (12.79₽) are considered to be a "second chance" to get out. According to the fan-theory 12.50₽ will represent the new bottom line of the next trend, but it is far too early to say this for certain.
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DKKRUB Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. 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 12.88₽ and 13.12₽. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, May 31, 2024, and so far it has fallen -3.26%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for DKK/RUB currency pair
There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.
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 0.91₽ between high and low, or 7.31%. For the last week the currency pair has had daily average volatility of 2.45%
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 14th
For the upcoming trading day on Friday, 14th we expect DKK/RUB to open at 12.80₽, and during the day (based on 14 day Average True Range), to move between 12.51₽ and 12.94₽, which gives a possible trading interval of +/-0.216₽ (+/-1.69%) up or down from last closing price. If DKK/RUB takes out the full calculated possible swing range there will be an estimated 3.39% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ 13.28₽, some 0.559₽ (4.39%) from the current price of 12.72₽, our system finds the risk reward not very attractive.
Is DKK/RUB currency pair A Buy?
DKK/RUB holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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 Strong Sell candidate.
Current score: -5.391 Strong Sell Candidate Downgraded
Predicted Opening Price for DKK/RUB of Friday, June 14, 2024
| Fair opening price June 14, 2024 | Current price |
|---|---|
| 12.80₽ ( 0.606%) | 12.72₽ |
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 | |
|---|---|---|
| R3 | 13.71 | 7.73% |
| R2 | 13.36 | 5.01% |
| R1 | 13.15 | 3.33% |
| Price | 12.72 | |
| S1 | 12.45 | -2.11% |
| S2 | 12.24 | -3.79% |
| S3 | 11.89 | -6.51% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 13.40 | 5.32% |
| R2 | 13.32 | 4.66% |
| R1 | 13.28 | 4.39% |
| Price | 12.72 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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