HUF/AUD Currency Pair Forecast
Red day on Friday for HUF/AUD
(Updated on May 17, 2024)
The HUF/AUD currency pair price fell by -0.162% on the last day (Friday, 17th May 2024) from A$0.0042 to A$0.0042. It has now fallen 3 days in a row. During the last trading day the currency pair fluctuated 0.780% from a day low at A$0.0042 to a day high of A$0.0042. The price has been going up and down for this period, and there has been a 0.34% gain for the last 2 weeks. Volume fell on the last day along with the currency pair, which is actually a good sign as volume should follow the currency pair. On the last day, the trading volume fell by -2 thousand shares and in total, 34 thousand shares were bought and sold for approximately A$144.90 .
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 HUF/AUD currency pair with a 90% probability to be traded between A$0.0041 and A$0.0042 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. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
HUFAUD Signals & Forecast
A buy signal was issued from a pivot bottom point on Sunday, April 28, 2024, and so far it has risen 0.761%. 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 HUF/AUD 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 A$0.0042 and A$0.0042. A break-up above any of these levels will issue buy signals. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Thursday, May 09, 2024 in the short-term chart.
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, May 09, 2024 in the short-term chart.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 HUF/AUD currency pair
HUF/AUD finds support from accumulated volume at A$0.0042 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 A$0.00003268 between high and low, or 0.780%. For the last week the currency pair has had daily average volatility of 0.756%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HUFAUD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect HUF/AUD to open at A$0.0042, and during the day (based on 14 day Average True Range), to move between A$0.0042 and A$0.0042, which gives a possible trading interval of +/-A$0.00003754 (+/-0.89%) up or down from last closing price. If HUF/AUD 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 support from accumulated volume at A$0.0042 (0.16%) than the resistance at A$0.0042 (0.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is HUF/AUD currency pair A Buy?
HUF/AUD holds several negative signals and we believe that 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: -3.754 Sell Candidate Unchanged
Predicted Opening Price for HUF/AUD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| A$0.0042 ( 0.0985%) | A$0.0042 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HUFAUD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0042 | 0.88 % | |
| R2 | 0.0042 | 0.579 % | ||
| R1 | 0.0042 | 0.396 % | ||
| Current price: | 0.0042 | |||
| Support | S1 | 0.0042 | -0.199 % | |
| S2 | 0.0042 | -0.382 % | ||
| S3 | 0.0042 | -0.679 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0043 | 1.27 % | |
| R2 | 0.0042 | 0.82 % | ||
| R1 | 0.0042 | 0.414 % | ||
| Current price | 0.0042 | |||
| Support | S1 | 0.0042 | -0.159% | |
| S2 | 0.0042 | -0.285% | ||
| S3 | 0.0042 | -0.329% |
FAQ
Click here for our free guide on how to buy HUF/AUD Currency pair.
