Horizons U.s. Dollar Currency Etf ETF Forecast
Evaluation of Horizons U.s. Dollar Currency Etf ETF downgraded after the last trading session.
(Updated on Jun 28, 2024)
The Horizons U.s. Dollar Currency Etf ETF price fell by -0.636% on the last day (Friday, 28th Jun 2024) from $10.22 to $10.15. During the last trading day the ETF fluctuated 0.0986% from a day low at $10.14 to a day high of $10.15. The price has been going up and down for this period, and there has been a -0.54% loss for the last 2 weeks. Volume has increased on the last day by 35 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 431 thousand shares were bought and sold for approximately $4.38 million.
Given the current horizontal trend, you can expect Horizons U.s. Dollar Currency Etf ETF with a 90% probability to be traded between $10.17 and $10.24 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 ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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DLR-U.TO Signals & Forecast
There are few to no technical positive signals at the moment. The Horizons U.s. Dollar Currency Etf ETF 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 $10.20 and $10.20. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, June 26, 2024, and so far it has fallen -0.685%. 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 rose on falling prices yesterday. This may be an early warning and the ETF should be followed more closely.
Support, Risk & Stop-loss for Horizons U.s. Dollar Currency Etf ETF
There is no support from accumulated volume below today's level and given the right condition the ETF may perform very badly in the next couple of days.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.0100 between high and low, or 0.0986%. For the last week the ETF has had daily average volatility of 0.0981%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (DLR-U.TO) For The Upcoming Trading Day Of Tuesday 2nd
For the upcoming trading day on Tuesday, 2nd we expect Horizons U.s. Dollar Currency Etf to open at $10.15, and during the day (based on 14 day Average True Range), to move between $10.13 and $10.17, which gives a possible trading interval of +/-$0.0152 (+/-0.15%) up or down from last closing price. If Horizons U.s. Dollar Currency Etf takes out the full calculated possible swing range there will be an estimated 0.30% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $10.18, some $0.0300 (0.30%) from the current price of $10.15, our system finds the risk reward not very attractive.
Is Horizons U.s. Dollar Currency Etf ETF A Buy?
Horizons U.s. Dollar Currency Etf 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 ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Buy to a Sell candidate.
Current score: -1.213 Sell Candidate Downgraded
Predicted Opening Price for Horizons U.s. Dollar Currency Etf of Tuesday, July 2, 2024
| Fair opening price July 2, 2024 | Current price |
|---|---|
| $10.15 ( 0.0328%) | $10.15 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DLR-U.TO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.16 | 0.0657% |
| R2 | 10.15 | 0.0280% |
| R1 | 10.15 | 0.0048% |
| Price | 10.15 | |
| S1 | 10.14 | -0.0705% |
| S2 | 10.14 | -0.0937% |
| S3 | 10.14 | -0.131% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 10.21 | 0.591% |
| R2 | 10.19 | 0.394% |
| R1 | 10.18 | 0.296% |
| Price | 10.15 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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