ILS/SEK Currency Pair Forecast

ILS/SEK currency pair upgraded to Hold/Accumulate.
(Updated on Jun 14, 2024)

ILSSEK Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 1.45%. Further rise is indicated until a new top pivot has been found. ILS/SEK has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ILS/SEK currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at kr2.88. On a fall, the currency pair will find some support from the short-term average at kr2.81. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Sell

Special Signal Notification

Double Top Formation

A sell signal from a double top formation was found on Tuesday, April 30, 2024 with a target of kr2.90. Despite whether the objective of the signal formation has been reached the currency pair may continue to fall.

Support, Risk & Stop-loss for ILS/SEK currency pair

ILS/SEK finds support from accumulated volume at kr2.83 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 kr0.0535 between high and low, or 1.91%. For the last week the currency pair has had daily average volatility of 1.65%.

Our recommended stop-loss: kr2.66 (-5.83%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 34 days ago.)

Trading Expectations (ILSSEK) For The Upcoming Trading Day Of Monday 17th

For the upcoming trading day on Monday, 17th we expect ILS/SEK to open at kr2.82, and during the day (based on 14 day Average True Range), to move between kr2.79 and kr2.87, which gives a possible trading interval of +/-kr0.0406 (+/-1.43%) up or down from last closing price. If ILS/SEK takes out the full calculated possible swing range there will be an estimated 2.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr2.83 (0.02%) than the resistance at kr2.91 (2.81%), 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/SEK currency pair A Buy?

ILS/SEK holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.773 Hold/Accumulate Upgraded

Predicted Opening Price for ILS/SEK of Monday, June 17, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.