HTG/GBP Currency Pair Forecast
HTG/GBP currency pair upgraded from Hold/Accumulate to Buy Candidate after Wednesday trading session.
(Updated on May 29, 2024)
The HTG/GBP currency pair price gained 0.0857% on the last trading day (Wednesday, 29th May 2024), rising from £0.0059 to £0.0059. During the last trading day the currency pair fluctuated 0.503% from a day low at £0.0059 to a day high of £0.0059. The price has been going up and down for this period, and there has been a -0.52% loss for the last 2 weeks. Volume fell on the last day by -20 shares and in total, 1 thousand shares were bought and sold for approximately £8.68 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The currency pair is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at £0.0059 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect HTG/GBP currency pair with a 90% probability to be traded between £0.0059 and £0.0062 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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HTGGBP Signals & Forecast
There are mixed signals in the currency pair today. The HTG/GBP currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at £0.0060. On a fall, the currency pair will find some support from the short-term average at £0.0059. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. A buy signal was issued from a pivot bottom point on Wednesday, May 22, 2024, and so far it has risen 0.348%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for HTG/GBP currency pair
HTG/GBP finds support from accumulated volume at £0.0059 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 £0.00002965 between high and low, or 0.503%. For the last week the currency pair has had daily average volatility of 0.354%
Our recommended stop-loss: £0.0056 (-5.87%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (HTGGBP) For The Upcoming Trading Day Of Thursday 30th
For the upcoming trading day on Thursday, 30th we expect HTG/GBP to open at £0.0059, and during the day (based on 14 day Average True Range), to move between £0.0059 and £0.0060, which gives a possible trading interval of +/-£0.00003707 (+/-0.63%) up or down from last closing price. If HTG/GBP takes out the full calculated possible swing range there will be an estimated 1.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at £0.0059 (0.04%) than the support at £0.0059 (0.08%), 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 HTG/GBP currency pair A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for HTG/GBP currency pair to perform well in the short-term period. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 2.668 Buy Candidate Upgraded
Predicted Opening Price for HTG/GBP of Thursday, May 30, 2024
| Fair opening price May 30, 2024 | Current price |
|---|---|
| £0.0059 ( 0.151%) | £0.0059 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HTGGBP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0059 | 0.350 % | |
| R2 | 0.0059 | 0.159 % | ||
| R1 | 0.0059 | 0.0407 % | ||
| Current price: | 0.0059 | |||
| Support | S1 | 0.0059 | -0.342 % | |
| S2 | 0.0059 | -0.460 % | ||
| S3 | 0.0059 | -0.652 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0060 | 0.727 % | |
| R2 | 0.0059 | 0.406 % | ||
| R1 | 0.0059 | 0.0371 % | ||
| Current price | 0.0059 | |||
| Support | S1 | 0.0059 | -0.0842% | |
| S2 | 0.0059 | -0.167% | ||
| S3 | 0.0059 | -0.90% |
FAQ
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