KWD/CAD Currency Pair Forecast

Stronger technical forecast for KWD/CAD currency pair price after Wednesday trading.
(Updated on May 29, 2024)

KWDCAD Signals & Forecast

The KWD/CAD 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 $4.46 and $4.45. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, May 17, 2024, and so far it has risen 1.00%. 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. The currency pair had a Golden Star Signal on Monday, May 27, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, September 29, 2023.

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 KWD/CAD currency pair

KWD/CAD finds support from accumulated volume at $4.47 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 $0.0347 between high and low, or 0.780%. For the last week the currency pair has had daily average volatility of 0.609%

Our recommended stop-loss: $4.24 (-5.04%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 33 days ago.)

Trading Expectations (KWDCAD) For The Upcoming Trading Day Of Thursday 30th

For the upcoming trading day on Thursday, 30th we expect KWD/CAD to open at $4.46, and during the day (based on 14 day Average True Range), to move between $4.44 and $4.50, which gives a possible trading interval of +/-$0.0293 (+/-0.66%) up or down from last closing price. If KWD/CAD takes out the full calculated possible swing range there will be an estimated 1.31% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $4.47 (0.04%) than the support at $4.47 (0.08%), 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 KWD/CAD currency pair A Buy?

KWD/CAD holds several positive signals and is considered to be a good choice at current levels. We expect the KWD/CAD currency pair to perform great in the short-term period. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 5.260 Strong Buy Candidate Upgraded

Predicted Opening Price for KWD/CAD of Thursday, May 30, 2024

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