MDL/GBP Currency Pair Forecast

Stronger technical forecast for MDL/GBP currency pair price after Tuesday trading.
(Updated on Jun 25, 2024)

MDLGBP Signals & Forecast

A buy signal was issued from a pivot bottom point on Thursday, June 13, 2024, and so far it has risen 0.203%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The MDL/GBP 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 £0.0435 and £0.0437. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). MDL/GBP 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 MDL/GBP currency pair

MDL/GBP finds support from accumulated volume at £0.0433 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 £0.00002708 between high and low, or 0.0625%. For the last week the currency pair has had daily average volatility of 0.107%.

Our recommended stop-loss: £0.0411 (-5.04%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 49 days ago.)

Trading Expectations (MDLGBP) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect MDL/GBP to open at £0.0433, and during the day (based on 14 day Average True Range), to move between £0.0431 and £0.0435, which gives a possible trading interval of +/-£0.0002 (+/-0.42%) up or down from last closing price. If MDL/GBP takes out the full calculated possible swing range there will be an estimated 0.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at £0.0433 (0.03%) than the resistance at £0.0435 (0.35%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is MDL/GBP currency pair A Buy?

MDL/GBP 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. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.713 Hold/Accumulate Upgraded

Predicted Opening Price for MDL/GBP of Wednesday, June 26, 2024

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