EUR/DKK 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
Evaluation of EUR/DKK currency pair downgraded after the last trading session.
(Updated on May 31, 2024)
The EUR/DKK currency pair price fell by -0.0091% on the last day (Friday, 31st May 2024) from kr7.46 to kr7.46. During the last trading day the currency pair fluctuated 0.108% from a day low at kr7.45 to a day high of kr7.46. 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 69 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, 69 thousand shares were bought and sold for approximately kr515.94 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 EUR/DKK currency pair with a 90% probability to be traded between kr7.46 and kr7.47 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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EURDKK Signals & Forecast
There are few to no technical positive signals at the moment. The EUR/DKK 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 kr7.46 and kr7.46. 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 17, 2024, and so far it has fallen -0.0568%. 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). EUR/DKK 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 currency pair had a Golden Star Signal on Thursday, March 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, March 07, 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 Thursday, March 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, March 07, 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 Thursday, March 07, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, March 07, 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.
Support, Risk & Stop-loss for EUR/DKK currency pair
EUR/DKK finds support from accumulated volume at kr7.46 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 kr0.0081 between high and low, or 0.108%. For the last week the currency pair has had daily average volatility of 0.0332%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (EURDKK) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect EUR/DKK to open at kr7.46, and during the day (based on 14 day Average True Range), to move between kr7.45 and kr7.46, which gives a possible trading interval of +/-kr0.0032 (+/-0.04%) up or down from last closing price. If EUR/DKK takes out the full calculated possible swing range there will be an estimated 0.08% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr7.46 (0.00%) than the support at kr7.46 (0.01%), 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 EUR/DKK currency pair A Buy?
EUR/DKK 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 Sell candidate.
Current score: -2.400 Sell Candidate Downgraded
Predicted Opening Price for EUR/DKK of Monday, June 3, 2024
Fair opening price June 3, 2024 | Current price |
---|---|
kr7.46 ( 0.0096%) | kr7.46 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EURDKK
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.47 | 0.0985 % | |
R2 | 7.46 | 0.0572 % | ||
R1 | 7.46 | 0.0317 % | ||
Current price: | 7.46 | |||
Support | S1 | 7.45 | -0.0508 % | |
S2 | 7.45 | -0.0764 % | ||
S3 | 7.45 | -0.118 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 7.46 | 0.0536 % | |
R2 | 7.46 | 0.0298 % | ||
R1 | 7.46 | 0.0008 % | ||
Current price | 7.46 | |||
Support | S1 | 7.46 | -0.0059% | |
S2 | 7.46 | -0.0099% | ||
S3 | 7.45 | -0.0562% |
FAQ
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