ILS/AED Currency Pair Forecast
ILS/AED currency pair price ended at $0.99 on Thursday, after losing 0.0615%.
(Updated on May 30, 2024)
The ILS/AED currency pair price fell by -0.0615% on the last day (Thursday, 30th May 2024) from $0.99 to $0.99. It has now fallen 4 days in a row. During the last trading day the currency pair fluctuated 5.41% from a day low at $0.94 to a day high of $0.99. The price has fallen in 6 of the last 10 days. Volume has increased on the last day by 10 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, 1 thousand shares were bought and sold for approximately $1.18 thousand.
The currency pairis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $1.00 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect ILS/AED currency pair with a 90% probability to be traded between $0.90 and $0.98 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.
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ILSAED Signals & Forecast
There are mixed signals in the currency pair today. A sell signal was issued from a pivot top point on Sunday, May 26, 2024, and so far it has fallen -1.15%. 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). ILS/AED 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 ILS/AED currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $0.99 and $0.98. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for ILS/AED currency pair
ILS/AED finds support from accumulated volume at $0.98 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 $0.0510 between high and low, or 5.41%. For the last week the currency pair has had daily average volatility of 4.18%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ILSAED) For The Upcoming Trading Day Of Friday 31st
For the upcoming trading day on Friday, 31st we expect ILS/AED to open at $0.98, and during the day (based on 14 day Average True Range), to move between $0.94 and $1.04, which gives a possible trading interval of +/-$0.0483 (+/-4.88%) up or down from last closing price. If ILS/AED takes out the full calculated possible swing range there will be an estimated 9.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.99 (0.06%) than the support at $0.98 (0.99%), 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 ILS/AED currency pair A Buy?
ILS/AED 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: -2.180 Sell Candidate Unchanged
Predicted Opening Price for ILS/AED of Friday, May 31, 2024
| Fair opening price May 31, 2024 | Current price |
|---|---|
| $0.98 ( 1.51%) | $0.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ILSAED
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.03 | 3.64 % | |
| R2 | 1.01 | 1.67 % | ||
| R1 | 1.00 | 0.459 % | ||
| Current price: | 0.99 | |||
| Support | S1 | 0.96 | -3.48 % | |
| S2 | 0.94 | -4.69 % | ||
| S3 | 0.93 | -6.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 1.00 | 0.730 % | |
| R2 | 0.99 | 0.135 % | ||
| R1 | 0.99 | 0.0616 % | ||
| Current price | 0.99 | |||
| Support | S1 | 0.98 | -0.99% | |
| S2 | 0.98 | -1.36% | ||
| S3 | 0.98 | -1.42% |
FAQ
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