LSL/EUR Currency Pair Forecast
LSL/EUR currency pair downgraded to Hold/Accumulate
(Updated on May 24, 2024)
The LSL/EUR currency pair price gained 0.0100% on the last trading day (Friday, 24th May 2024), rising from 0.0502€ to 0.0502€. During the last trading day the currency pair fluctuated 1.43% from a day low at 0.0501€ to a day high of 0.0508€. The price has risen in 6 of the last 10 days but is still down by -0.49% for this period. Volume fell on the last day by -1 shares and in total, 1 shares were bought and sold for approximately 0.0502€ . 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 lies in the middle of a narrow and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the currency pair is expected to rise 4.72% during the next 3 months and, with a 90% probability hold a price between 0.0519€ and 0.0532€ at the end of this 3-month period.
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LSLEUR Signals & Forecast
The LSL/EUR currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately 0.0505€. On a fall, the currency pair will find some support from the long-term average at approximately 0.0499€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -1.14%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 Wednesday, February 14, 2024 in the long-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.
Golden Star 12 Months
The currency pair had a Golden Star Signal on Wednesday, February 14, 2024 in the long-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 LSL/EUR currency pair
LSL/EUR finds support from accumulated volume at 0.0495€ 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 0.0007€ between high and low, or 1.43%. For the last week the currency pair has had daily average volatility of 1.43%
Our recommended stop-loss: 0.0484€ (-3.65%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 23 days ago.)
Trading Expectations (LSLEUR) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect LSL/EUR to open at 0.0503€, and during the day (based on 14 day Average True Range), to move between 0.0495€ and 0.0509€, which gives a possible trading interval of +/-0.0007€ (+/-1.47%) up or down from last closing price. If LSL/EUR takes out the full calculated possible swing range there will be an estimated 2.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 0.0503€ (0.23%) than the support at 0.0495€ (1.33%), 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 LSL/EUR currency pair A Buy?
LSL/EUR holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.512 Hold/Accumulate Downgraded
Predicted Opening Price for LSL/EUR of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
0.0503€ ( 0.303%) | 0.0502€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LSLEUR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0511 | 1.73 % | |
R2 | 0.0508 | 1.18 % | ||
R1 | 0.0506 | 0.85 % | ||
Current price: | 0.0502 | |||
Support | S1 | 0.0501 | -0.241 % | |
S2 | 0.0499 | -0.578 % | ||
S3 | 0.0496 | -1.12 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0.0505 | 0.593 % | |
R2 | 0.0504 | 0.426 % | ||
R1 | 0.0503 | 0.227 % | ||
Current price | 0.0502 | |||
Support | S1 | 0.0495 | -1.33% | |
S2 | 0.0495 | -1.44% | ||
S3 | 0.0494 | -1.48% |
FAQ
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