JOD/ILS Currency Pair Forecast
JOD/ILS currency pair price ended at ₪5.31 on Friday, after gaining 0.215%.
(Updated on Jun 28, 2024)
The JOD/ILS currency pair price gained 0.215% on the last trading day (Friday, 28th Jun 2024), rising from ₪5.30 to ₪5.31. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the currency pair fluctuated 5.63% from a day low at ₪5.04 to a day high of ₪5.32. The price has risen in 7 of the last 10 days and is up by 1.19% over the past 2 weeks. Volume fell on the last day by -150 shares and in total, 1 thousand shares were bought and sold for approximately ₪6.04 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The currency pair has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. ₪5.24 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the currency pair is predicted to reach ₪5.57 sometime during the next 3 months.
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JODILS Signals & Forecast
The JOD/ILS 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 ₪5.29 and ₪5.21. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 06, 2024, and so far it has risen 6.60%. 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. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for JOD/ILS currency pair
JOD/ILS finds support from accumulated volume at ₪5.30 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 therefore the general risk is considered very 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 ₪0.284 between high and low, or 5.63%. For the last week the currency pair has had daily average volatility of 5.68%
Our recommended stop-loss: ₪5.03 (-5.42%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 20 days ago.)
Trading Expectations (JODILS) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect JOD/ILS to open at ₪5.22, and during the day (based on 14 day Average True Range), to move between ₪5.05 and ₪5.58, which gives a possible trading interval of +/-₪0.262 (+/-4.92%) up or down from last closing price. If JOD/ILS takes out the full calculated possible swing range there will be an estimated 9.84% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ₪5.30 (0.21%) than the resistance at ₪5.35 (0.75%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JOD/ILS currency pair A Buy?
JOD/ILS 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: 0.006 Hold/Accumulate Unchanged
Predicted Opening Price for JOD/ILS of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| ₪5.22 ( 1.72%) | ₪5.31 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JODILS
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.51 | 3.62% |
| R2 | 5.40 | 1.58% |
| R1 | 5.33 | 0.317% |
| Price | 5.31 | |
| S1 | 5.11 | -3.76% |
| S2 | 5.05 | -5.02% |
| S3 | 4.94 | -7.06% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 5.40 | 1.59% |
| R2 | 5.36 | 0.94% |
| R1 | 5.35 | 0.749% |
| Price | 5.31 | |
| S1 | 5.30 | -0.215% |
| S2 | 5.29 | -0.519% |
| S3 | 5.25 | -1.18% |
FAQ
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