MDL/EUR Currency Pair Forecast

MDL/EUR currency pair price up 0.0575% on Friday
(Updated on Jun 28, 2024)

MDLEUR Signals & Forecast

MDL/EUR 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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MDL/EUR currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at 0.0523€ and 0.0523€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 11, 2024, and so far it has fallen -0.779%. 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). The currency pair had a Golden Star Signal on Wednesday, June 05, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Monday, March 25, 2024.

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 MDL/EUR currency pair

MDL/EUR finds support from accumulated volume at 0.0522€ 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 0.0004€ between high and low, or 0.85%. For the last week the currency pair has had daily average volatility of 0.782%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (MDLEUR) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect MDL/EUR to open at 0.0521€, and during the day (based on 14 day Average True Range), to move between 0.0518€ and 0.0527€, which gives a possible trading interval of +/-0.0005€ (+/-0.90%) up or down from last closing price. If MDL/EUR takes out the full calculated possible swing range there will be an estimated 1.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 0.0523€ (0.08%) than the support at 0.0522€ (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 MDL/EUR currency pair A Buy?

MDL/EUR 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: -2.312 Sell Candidate Unchanged

Predicted Opening Price for MDL/EUR of Monday, July 1, 2024

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