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INR/NOK Currency Pair Forecast

kr0.127
-0.0004 (-0.329%)
At Close: Jun 28, 2024

Explanation to Bollinger's Bands

Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.

Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.

Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation

BandWidth defines the current width of the band.
%b defines the current position within the band.

BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)

Live Samples:

Bollinger Bottleneck Buy Pattern 1
Bollinger Bottleneck Buy Pattern 2
Bollinger Bottleneck Sell Pattern

Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.

Source: http://www.bollingerbands.com

RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of INRNOK
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INR/NOK currency pair price down 0.329% on Friday
(Updated on Jun 28, 2024)

Buy or Hold candidate since Jun 26, 2024 Loss -0.44% PDF

The INR/NOK currency pair price fell by -0.329% on the last day (Friday, 28th Jun 2024) from kr0.128 to kr0.127. During the last trading day the currency pair fluctuated 0.723% from a day low at kr0.127 to a day high of kr0.128. The price has fallen in 6 of the last 10 days and is down by -0.4% for this period. Volume has increased on the last day by 969 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, 14 thousand shares were bought and sold for approximately kr1.81 thousand.

The currency pair lies in the middle of a narrow and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the currency pair is expected to fall -3.64% during the next 3 months and, with a 90% probability hold a price between kr0.120 and kr0.125 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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INRNOK Signals & Forecast

The INR/NOK currency pair holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the currency pair has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at kr0.127 and kr0.127. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, June 03, 2024, and so far it has risen 1.38%. 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. INR/NOK 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 very low volume increases the risk and reduces the other technical signals issued. The currency pair had a Golden Star Signal on Tuesday, June 25, 2024 in the short-term chart.

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.

Buy
Special Signal Notification

Golden Star

The currency pair had a Golden Star Signal on Tuesday, June 25, 2024 in the short-term chart.

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.

Support, Risk & Stop-loss for INR/NOK currency pair

INR/NOK finds support from accumulated volume at kr0.126 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 kr0.0009 between high and low, or 0.723%. For the last week the currency pair has had daily average volatility of 0.87%.

Our recommended stop-loss: kr0.122 (-4.25%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 48 days ago.)

Trading Expectations (INRNOK) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect INR/NOK to open at kr0.128, and during the day (based on 14 day Average True Range), to move between kr0.126 and kr0.129, which gives a possible trading interval of +/-kr0.0012 (+/-0.96%) up or down from last closing price. If INR/NOK takes out the full calculated possible swing range there will be an estimated 1.92% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at kr0.127 (0.08%) than the support at kr0.126 (0.90%), 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 INR/NOK currency pair A Buy?

INR/NOK 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.

Current score: 0.401 Hold/Accumulate Unchanged

Predicted Opening Price for INR/NOK of Monday, July 1, 2024

Fair opening price July 1, 2024 Current price
kr0.128 ( 0.241%) kr0.127

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

Trading levels for INRNOK

Fibonacci Support & Resistance Levels

Level Price
R3 0.129 0.96%
R2 0.128 0.688%
R1 0.128 0.517%
Price 0.127
S1 0.127 -0.0352%
S2 0.127 -0.206%
S3 0.127 -0.482%

Accumulated Volume Support & Resistance Levels

Level Price
R3 0.130 2.42%
R2 0.128 0.746%
R1 0.127 0.0786%
Price 0.127
S1 0.126 -0.90%
S2 0.126 -1.03%
S3 0.126 -1.36%

FAQ

What is the symbol for INR/NOK Currency pair and on which exchange is it traded?
The symbol for INR/NOK is INRNOK and it is traded on the CCY (Forex).

Should I buy or sell INR/NOK Currency pair?
INR/NOK 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.

How to buy INR/NOK Currency pair?
INR/NOK Currency pair can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy INR/NOK Currency pair.

What's the current price of INR/NOK Currency pair?
As of the end of day on the Jun 28, 2024, the price of an INR/NOK (INRNOK) share was kr0.127.

What is the 52-week high and low for INR/NOK Currency pair?
The 52-week high for INR/NOK Currency pair is kr0.135 and the 52-week low is kr0.120.
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