ILS/SEK Currency Pair Forecast

Red day on Tuesday for ILS/SEK currency pair after losing 0.295%
(Updated on Jun 25, 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 0.680%. Further rise is indicated until a new top pivot has been found. 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. The ILS/SEK 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 kr2.81 and kr2.86. A break-up above any of these levels will issue buy signals. 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".

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

ILS/SEK finds support from accumulated volume at kr2.81 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 kr0.0235 between high and low, or 0.84%. For the last week the currency pair has had daily average volatility of 1.01%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ILSSEK) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect ILS/SEK to open at kr2.81, and during the day (based on 14 day Average True Range), to move between kr2.76 and kr2.85, which gives a possible trading interval of +/-kr0.0465 (+/-1.66%) up or down from last closing price. If ILS/SEK takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at kr2.81 (0.02%) than the resistance at kr2.83 (0.72%), 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 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: -2.016 Sell Candidate Unchanged

Predicted Opening Price for ILS/SEK of Wednesday, June 26, 2024

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