LYD/USD Currency Pair Forecast
LYD/USD currency pair price ended at $0.204 on Friday, after losing 0.0367%.
(Updated on Jun 28, 2024)
The LYD/USD currency pair price fell by -0.0367% on the last day (Friday, 28th Jun 2024) from $0.204 to $0.204. It has now fallen 3 days in a row. During the last trading day the currency pair fluctuated 0.138% from a day low at $0.204 to a day high of $0.204. The price has fallen in 6 of the last 10 days but is still up by 0.18% over the past 2 weeks. Volume has increased on the last day by 1 shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 shares were bought and sold for approximately $0.612 .
The currency pair is at the lower part of a narrow and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.203 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect LYD/USD currency pair with a 90% probability to be traded between $0.203 and $0.206 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.
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LYDUSD Signals & Forecast
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. The LYD/USD currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $0.205 and $0.205. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Sunday, June 16, 2024, and so far it has fallen -1.35%. Further fall is indicated until a new bottom pivot has been found. LYD/USD gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for LYD/USD currency pair
LYD/USD finds support from accumulated volume at $0.204 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 $0.0003 between high and low, or 0.138%. For the last week the currency pair has had daily average volatility of 0.109%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (LYDUSD) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect LYD/USD to open at $0.204, and during the day (based on 14 day Average True Range), to move between $0.203 and $0.205, which gives a possible trading interval of +/-$0.0008 (+/-0.41%) up or down from last closing price. If LYD/USD takes out the full calculated possible swing range there will be an estimated 0.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.204 (0.02%) than the resistance at $0.204 (0.12%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is LYD/USD currency pair A Buy?
LYD/USD holds several negative signals and is within a narrow and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this currency pair.
Current score: -4.452 Sell Candidate Unchanged
Predicted Opening Price for LYD/USD of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.204 ( 0.0459%) | $0.204 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for LYDUSD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.204 | 0.184% |
| R2 | 0.204 | 0.131% |
| R1 | 0.204 | 0.0985% |
| Price | 0.204 | |
| S1 | 0.204 | -0.0067% |
| S2 | 0.204 | -0.0392% |
| S3 | 0.204 | -0.0918% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.206 | 0.771% |
| R2 | 0.205 | 0.322% |
| R1 | 0.204 | 0.117% |
| Price | 0.204 | |
| S1 | 0.204 | -0.0221% |
| S2 | 0.204 | -0.0903% |
| S3 | 0.204 | -0.0985% |
FAQ
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