INR/XAG Currency Pair Forecast
Stronger technical forecast for INR/XAG currency pair price after Friday trading.
(Updated on Jun 28, 2024)
The INR/XAG currency pair price fell by -0.378% on the last day (Friday, 28th Jun 2024) from $0.0004 to $0.0004. During the last trading day the currency pair fluctuated 2.93% from a day low at $0.0004 to a day high of $0.0004. The price has been going up and down for this period, and there has been a 1.62% gain for the last 2 weeks. 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 -75 shares and in total, 1 thousand shares were bought and sold for approximately $0.512 .
The currency pair lies the upper part of a wide 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 $0.0004 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 -10.97% during the next 3 months and, with a 90% probability hold a price between $0.0003 and $0.0004 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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INRXAG Signals & Forecast
The INR/XAG 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 $0.0004 and $0.0004. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, May 28, 2024, and so far it has risen 9.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 INR/XAG currency pair
INR/XAG finds support from accumulated volume at $0.0004 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 controlled movements and therefore the general risk is considered 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 $0.00001186 between high and low, or 2.93%. For the last week the currency pair has had daily average volatility of 2.25%.
Our recommended stop-loss: $0.0004 (-4.31%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 28 days ago.)
Trading Expectations (INRXAG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect INR/XAG to open at $0.0004, and during the day (based on 14 day Average True Range), to move between $0.0004 and $0.0004, which gives a possible trading interval of +/-$0.00001165 (+/-2.83%) up or down from last closing price. If INR/XAG takes out the full calculated possible swing range there will be an estimated 5.66% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.0004 (1.60%) than the resistance at $0.0004 (2.37%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is INR/XAG currency pair A Buy?
Several short-term signals are positive, despite the currency pair being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for currency pair to perform well in the short-term. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.929 Buy Candidate Upgraded
Predicted Opening Price for INR/XAG of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.0004 ( 0.0677%) | $0.0004 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for INRXAG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0004 | 2.81% |
| R2 | 0.0004 | 1.71% |
| R1 | 0.0004 | 1.03% |
| Price | 0.0004 | |
| S1 | 0.0004 | -1.17% |
| S2 | 0.0004 | -1.85% |
| S3 | 0.0004 | -2.95% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0004 | 6.67% |
| R2 | 0.0004 | 2.97% |
| R1 | 0.0004 | 2.37% |
| Price | 0.0004 | |
| S1 | 0.0004 | -1.60% |
| S2 | 0.0004 | -1.76% |
| S3 | 0.0004 | -7.10% |
FAQ
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