DKK/TRY Currency Pair Forecast

DKK/TRY currency pair downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 10, 2024)

DKKTRY Signals & Forecast

There are few to no technical positive signals at the moment. The DKK/TRY currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at TRY 4.65 and TRY 4.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 20, 2024, and so far it has fallen -1.90%. 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 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/TRY currency pair

DKK/TRY finds support from accumulated volume at TRY 4.64 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 TRY 0.0363 between high and low, or 0.783%. For the last week the currency pair has had daily average volatility of 0.84%

Our recommended stop-loss: TRY 4.42 (-4.96%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 42 days ago.)

Trading Expectations (DKKTRY) For The Upcoming Trading Day Of Monday 13th

For the upcoming trading day on Monday, 13th we expect DKK/TRY to open at TRY 4.65, and during the day (based on 14 day Average True Range), to move between -TRY 599,046.20 and TRY 599,055.50, which gives a possible trading interval of +/-TRY 599,050.85 (+/-12 893 228.78%) up or down from last closing price. If DKK/TRY takes out the full calculated possible swing range there will be an estimated 25 786 457.55% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at TRY 4.64 (0.08%) than the resistance at TRY 4.65 (0.08%), 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/TRY currency pair A Buy?

DKK/TRY holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. 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 Buy to a Hold/Accumulate candidate.

Current score: -0.461 Hold/Accumulate Downgraded

Predicted Opening Price for DKK/TRY of Monday, May 13, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.