HNL/GBP Currency Pair Forecast

HNL/GBP currency pair price up 0.0536% on Friday
(Updated on May 17, 2024)

HNLGBP Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 0.0536%. Further rise is indicated until a new top pivot has been found. 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 HNL/GBP 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 £0.0316 and £0.0320. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for HNL/GBP currency pair

HNL/GBP finds support from accumulated volume at £0.0313 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 £0.00002065 between high and low, or 0.0659%. For the last week the currency pair has had daily average volatility of 0.199%

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (HNLGBP) For The Upcoming Trading Day Of Monday 20th

For the upcoming trading day on Monday, 20th we expect HNL/GBP to open at £0.0313, and during the day (based on 14 day Average True Range), to move between £0.0312 and £0.0315, which gives a possible trading interval of +/-£0.0002 (+/-0.60%) up or down from last closing price. If HNL/GBP takes out the full calculated possible swing range there will be an estimated 1.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.0313 (0.05%) than the resistance at £0.0318 (1.50%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is HNL/GBP currency pair A Buy?

HNL/GBP 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.

Current score: -1.711 Sell Candidate Unchanged

Predicted Opening Price for HNL/GBP of Monday, May 20, 2024

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