ILS/AUD Currency Pair Forecast
Red day on Friday for ILS/AUD currency pair after losing 0.518%
(Updated on Jun 28, 2024)
The ILS/AUD currency pair price fell by -0.518% on the last day (Friday, 28th Jun 2024) from A$0.400 to A$0.398. It has now fallen 4 days in a row. During the last trading day the currency pair fluctuated 1.26% from a day low at A$0.397 to a day high of A$0.402. The price has fallen in 8 of the last 10 days and is down by -1.93% for this period. 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 -18 shares and in total, 2 thousand shares were bought and sold for approximately A$883.86 .
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 ILS/AUD currency pair with a 90% probability to be traded between A$0.386 and A$0.401 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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ILSAUD Signals & Forecast
There are few to no technical positive signals at the moment. The ILS/AUD 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 A$0.401 and A$0.406. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -3.78%. 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). 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.
A sell signal from a double top formation was found on Tuesday, April 30, 2024 with a target of A$0.402. Despite whether the objective of the signal formation has been reached the currency pair may continue to fall.
Support, Risk & Stop-loss for ILS/AUD currency pair
There is no support from accumulated volume below today's level and given the right condition the currency pair may perform very badly in the next couple of days.
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$0.0050 between high and low, or 1.26%. For the last week the currency pair has had daily average volatility of 1.09%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ILSAUD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect ILS/AUD to open at A$0.399, and during the day (based on 14 day Average True Range), to move between A$0.394 and A$0.402, which gives a possible trading interval of +/-A$0.0043 (+/-1.07%) up or down from last closing price. If ILS/AUD takes out the full calculated possible swing range there will be an estimated 2.15% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ A$0.407, some A$0.0089 (2.24%) from the current price of A$0.398, our system finds the risk reward not very attractive.
Is ILS/AUD currency pair A Buy?
ILS/AUD 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: -2.523 Sell Candidate Unchanged
Predicted Opening Price for ILS/AUD of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| A$0.399 ( 0.214%) | A$0.398 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ILSAUD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.404 | 1.47% |
| R2 | 0.402 | 0.99% |
| R1 | 0.401 | 0.693% |
| Price | 0.398 | |
| S1 | 0.397 | -0.265% |
| S2 | 0.396 | -0.561% |
| S3 | 0.394 | -1.04% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.416 | 4.41% |
| R2 | 0.407 | 2.28% |
| R1 | 0.407 | 2.24% |
| Price | 0.398 | |
| S1 | 0 | - |
| S2 | 0 | - |
| S3 | 0 | - |
FAQ
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