DZD/EUR Currency Pair Forecast
DZD/EUR currency pair upgraded to Hold/Accumulate.
(Updated on Jun 28, 2024)
The DZD/EUR currency pair price fell by -0.0794% on the last day (Friday, 28th Jun 2024) from 0.0069€ to 0.0069€. During the last trading day the currency pair fluctuated 0.476% from a day low at 0.0069€ to a day high of 0.0069€. The price has been going up and down for this period, and there has been a -0.04% loss for the last 2 weeks. Volume has increased on the last day by 1 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, 57 shares were bought and sold for approximately 0.394€ .
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 DZD/EUR currency pair with a 90% probability to be traded between 0.0067€ and 0.0069€ 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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DZDEUR Signals & Forecast
The DZD/EUR currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately 0.0069€. On a fall, the currency pair will find some support from the long-term average at approximately 0.0069€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -0.361%. Further fall is indicated until a new bottom pivot has been found. DZD/EUR gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Wednesday, June 12, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 2024.
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
The currency pair had a Golden Star Signal on Wednesday, June 12, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 2024.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, June 12, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, June 12, 2024.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.
A sell signal from a double top formation was found on Friday, June 21, 2024 and based on theory for this formation the price should fall by -0.96% to 0.0068€ within 54 trading days since signal was issued (Monday, September 09, 2024).
Support, Risk & Stop-loss for DZD/EUR currency pair
DZD/EUR finds support from accumulated volume at 0.0069€ 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 with good liquidity the risk is considered very low in this stock. During the last day, the currency pair moved 0.00003283€ between high and low, or 0.476%. For the last week the currency pair has had daily average volatility of 0.88%.
Our recommended stop-loss: 0.0067€ (-2.58%) (This currency pair has low daily movements and this gives low risk. The RSI14 is 73 and this increases the risk substantially. There is a sell signal from a pivot top found 14 days ago.)
Trading Expectations (DZDEUR) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect DZD/EUR to open at 0.0069€, and during the day (based on 14 day Average True Range), to move between 0.0068€ and 0.0070€, which gives a possible trading interval of +/-0.00006192€ (+/-0.90%) up or down from last closing price. If DZD/EUR takes out the full calculated possible swing range there will be an estimated 1.79% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.0069€ (0.04%) than the support at 0.0069€ (0.73%), 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 DZD/EUR currency pair A Buy?
DZD/EUR holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.352 Hold/Accumulate Upgraded
Predicted Opening Price for DZD/EUR of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| 0.0069€ ( 0.123%) | 0.0069€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DZDEUR
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0069 | 0.598% |
| R2 | 0.0069 | 0.416% |
| R1 | 0.0069 | 0.304% |
| Price | 0.0069 | |
| S1 | 0.0069 | -0.0590% |
| S2 | 0.0069 | -0.171% |
| S3 | 0.0069 | -0.353% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0069 | 0.237% |
| R2 | 0.0069 | 0.0795% |
| R1 | 0.0069 | 0.0442% |
| Price | 0.0069 | |
| S1 | 0.0069 | -0.732% |
| S2 | 0.0068 | -0.99% |
| S3 | 0.0068 | -1.04% |
FAQ
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