LRD/GBP Currency Pair Forecast
LRD/GBP currency pair price ended at £0.0040 on Friday, after gaining 0.0164%.
(Updated on Jun 28, 2024)
The LRD/GBP currency pair price gained 0.0164% on the last trading day (Friday, 28th Jun 2024), rising from £0.0040 to £0.0040. During the last trading day the currency pair fluctuated 0.127% from a day low at £0.0040 to a day high of £0.0040. The price has risen in 6 of the last 10 days and is up by 0.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 more shares were traded than the day before. In total, 3 shares were bought and sold for approximately £0.0120 .
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect LRD/GBP currency pair with a 90% probability to be traded between £0.0039 and £0.0040 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and currency pairs seldom manage to go directly from the bottom of a trend up to the top. Currency pairs turning up in the middle of a horizontal trend are therefore considered to be potential runners. 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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LRDGBP Signals & Forecast
Mostly positive signals in the chart today. The LRD/GBP 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 £0.0040 and £0.0040. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.91%. 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). LRD/GBP has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for LRD/GBP currency pair
LRD/GBP finds support from accumulated volume at £0.0040 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 £0.00000511 between high and low, or 0.127%. For the last week the currency pair has had daily average volatility of 0.257%.
Our recommended stop-loss: £0.0038 (-5.34%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)
Trading Expectations (LRDGBP) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect LRD/GBP to open at £0.0040, and during the day (based on 14 day Average True Range), to move between £0.0040 and £0.0040, which gives a possible trading interval of +/-£0.00001244 (+/-0.31%) up or down from last closing price. If LRD/GBP takes out the full calculated possible swing range there will be an estimated 0.62% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £0.0040 (0.12%) than the resistance at £0.0040 (0.48%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LRD/GBP currency pair A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for LRD/GBP currency pair to perform well in the short-term period.
Current score: 1.390 Buy Candidate Unchanged
Predicted Opening Price for LRD/GBP of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| £0.0040 ( 0.0424%) | £0.0040 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LRDGBP
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0040 | 0.170% |
| R2 | 0.0040 | 0.121% |
| R1 | 0.0040 | 0.0910% |
| Price | 0.0040 | |
| S1 | 0.0040 | -0.0062% |
| S2 | 0.0040 | -0.0362% |
| S3 | 0.0040 | -0.0848% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0041 | 1.71% |
| R2 | 0.0041 | 1.41% |
| R1 | 0.0040 | 0.477% |
| Price | 0.0040 | |
| S1 | 0.0040 | -0.118% |
| S2 | 0.0040 | -0.596% |
| S3 | 0.0040 | -0.90% |
FAQ
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