ILS/CAD Currency Pair Forecast
ILS/CAD currency pair price ended at $0.367 on Friday, after losing 0.296%.
(Updated on May 17, 2024)
The ILS/CAD currency pair price fell by -0.296% on the last day (Friday, 17th May 2024) from $0.368 to $0.367. During the last trading day the currency pair fluctuated 0.88% from a day low at $0.366 to a day high of $0.369. The price has fallen in 6 of the last 10 days and is down by -0.23% 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 -76 shares and in total, 2 thousand shares were bought and sold for approximately $855.45 .
The currency pair lies the upper part of a narrow and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.370 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the currency pair is expected to fall -2.61% during the next 3 months and, with a 90% probability hold a price between $0.346 and $0.360 at the end of this 3-month period. 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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ILSCAD Signals & Forecast
The ILS/CAD currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately $0.368. On a fall, the currency pair will find some support from the long-term average at approximately $0.365. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Tuesday, May 07, 2024, and so far it has fallen -0.97%. Further fall is indicated until a new bottom pivot has been found. 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.
Support, Risk & Stop-loss for ILS/CAD currency pair
ILS/CAD finds support from accumulated volume at $0.367 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 $0.0032 between high and low, or 0.88%. For the last week the currency pair has had daily average volatility of 1.06%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ILSCAD) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect ILS/CAD to open at $0.367, and during the day (based on 14 day Average True Range), to move between $0.363 and $0.372, which gives a possible trading interval of +/-$0.0045 (+/-1.22%) up or down from last closing price. If ILS/CAD takes out the full calculated possible swing range there will be an estimated 2.44% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.367 (0.06%) than the resistance at $0.368 (0.10%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ILS/CAD currency pair A Buy?
ILS/CAD 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: -2.082 Sell Candidate Unchanged
Predicted Opening Price for ILS/CAD of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| $0.367 ( 0.0269%) | $0.367 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ILSCAD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.370 | 0.85 % | |
| R2 | 0.369 | 0.514 % | ||
| R1 | 0.368 | 0.307 % | ||
| Current price: | 0.367 | |||
| Support | S1 | 0.366 | -0.361 % | |
| S2 | 0.365 | -0.568 % | ||
| S3 | 0.364 | -0.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.380 | 3.45 % | |
| R2 | 0.371 | 0.95 % | ||
| R1 | 0.368 | 0.0954 % | ||
| Current price | 0.367 | |||
| Support | S1 | 0.367 | -0.0574% | |
| S2 | 0.365 | -0.624% | ||
| S3 | 0.364 | -0.86% |
FAQ
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