ILS/SEK Currency Pair Forecast
ILS/SEK currency pair price ended at kr2.91 on Friday, after losing 0.194%.
(Updated on May 24, 2024)
The ILS/SEK currency pair price fell by -0.194% on the last day (Friday, 24th May 2024) from kr2.92 to kr2.91. During the last trading day the currency pair fluctuated 1.10% from a day low at kr2.90 to a day high of kr2.93. The price has risen in 6 of the last 10 days and is up by 0.24% over the past 2 weeks. Volume has increased on the last day by 7 thousand 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, 96 thousand shares were bought and sold for approximately kr279.32 thousand.
The currency pair lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the currency pair is expected to rise 2.05% during the next 3 months and, with a 90% probability hold a price between kr2.92 and kr3.05 at the end of this 3-month period.
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ILSSEK Signals & Forecast
There are mixed signals in the currency pair today. A sell signal was issued from a pivot top point on Tuesday, April 30, 2024, and so far it has fallen -1.13%. 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/SEK 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 ILS/SEK 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 kr2.91 and kr2.90. A breakdown below any of these levels will issue sell signals. The currency pair had a Golden Star Signal on Thursday, April 11, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, July 30, 2023.
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, April 11, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, July 30, 2023.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 12 Months
The currency pair had a Golden Star Signal on Thursday, April 11, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Sunday, July 30, 2023.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.
A sell signal from a double top formation was found on Tuesday, April 30, 2024 and based on theory for this formation the price should fall by -0.410% to kr2.90 within 14 trading days since signal was issued (Tuesday, May 28, 2024).
Support, Risk & Stop-loss for ILS/SEK currency pair
ILS/SEK finds support from accumulated volume at kr2.91 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 kr0.0319 between high and low, or 1.10%. For the last week the currency pair has had daily average volatility of 1.06%.
Our recommended stop-loss: kr2.83 (-2.82%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)
Trading Expectations (ILSSEK) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect ILS/SEK to open at kr2.91, and during the day (based on 14 day Average True Range), to move between kr2.88 and kr2.95, which gives a possible trading interval of +/-kr0.0362 (+/-1.24%) up or down from last closing price. If ILS/SEK takes out the full calculated possible swing range there will be an estimated 2.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr2.92 (0.03%) than the support at kr2.91 (0.04%), 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/SEK currency pair A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for ILS/SEK currency pair to perform well in the short-term.
Current score: 1.537 Buy Candidate Unchanged
Predicted Opening Price for ILS/SEK of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| kr2.91 ( 0.0501%) | kr2.91 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ILSSEK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.94 | 1.04 % | |
| R2 | 2.93 | 0.626 % | ||
| R1 | 2.93 | 0.368 % | ||
| Current price: | 2.91 | |||
| Support | S1 | 2.90 | -0.468 % | |
| S2 | 2.89 | -0.726 % | ||
| S3 | 2.88 | -1.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 2.95 | 1.14 % | |
| R2 | 2.92 | 0.263 % | ||
| R1 | 2.92 | 0.0338 % | ||
| Current price | 2.91 | |||
| Support | S1 | 2.91 | -0.0404% | |
| S2 | 2.91 | -0.223% | ||
| S3 | 2.90 | -0.362% |
FAQ
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