MDL/USD Currency Pair Forecast

Green day on Monday for MDL/USD currency pair after gaining 0.233%
(Updated on Jun 24, 2024)

MDLUSD Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. MDL/USD 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/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 $0.0562 and $0.0564. 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). The currency pair had a Golden Star Signal on Thursday, October 05, 2023 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 MDL/USD currency pair

MDL/USD finds support from accumulated volume at $0.0557 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 $0.0002 between high and low, or 0.322%. For the last week the currency pair has had daily average volatility of 1.22%.

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

Trading Expectations (MDLUSD) For The Upcoming Trading Day Of Tuesday 25th

For the upcoming trading day on Tuesday, 25th we expect MDL/USD to open at $0.0559, and during the day (based on 14 day Average True Range), to move between $0.0550 and $0.0568, which gives a possible trading interval of +/-$0.0009 (+/-1.60%) up or down from last closing price. If MDL/USD takes out the full calculated possible swing range there will be an estimated 3.21% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $0.0557 (0.38%) than the resistance at $0.0565 (1.18%), 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/USD currency pair A Buy?

MDL/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: -3.124 Sell Candidate Unchanged

Predicted Opening Price for MDL/USD of Tuesday, June 25, 2024

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