MKD/EUR Currency Pair Forecast
MKD/EUR currency pair price ended at 0.0162€ on Friday, after losing 0.0617%.
(Updated on May 31, 2024)
The MKD/EUR currency pair price fell by -0.0617% on the last day (Friday, 31st May 2024) from 0.0162€ to 0.0162€. During the last trading day the currency pair fluctuated 1.80% from a day low at 0.0162€ to a day high of 0.0165€. The price has risen in 5 of the last 10 days and is up by 0.04% over the past 2 weeks. Volume has increased on the last day by 21 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, 27 shares were bought and sold for approximately 0.438€ .
The currency pair is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect MKD/EUR currency pair with a 90% probability to be traded between 0.0161€ and 0.0163€ 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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MKDEUR 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 MKD/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 0.0162€ and 0.0162€. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -0.440%. Further fall is indicated until a new bottom pivot has been found. MKD/EUR 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. The currency pair had a Golden Star Signal on Wednesday, May 08, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, May 08, 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.
Golden Star
The currency pair had a Golden Star Signal on Wednesday, May 08, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, May 08, 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.
Golden Star 12 Months
The currency pair had a Golden Star Signal on Wednesday, May 08, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Wednesday, May 08, 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.
A buy signal from a double bottom formation was found on Friday, May 17, 2024 with a target of 0.0162€. Despite whether the objective of the signal formation has been reached the currency pair may continue to perform well.
Support, Risk & Stop-loss for MKD/EUR currency pair
MKD/EUR finds support from accumulated volume at 0.0162€ 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 1.80%. For the last week the currency pair has had daily average volatility of 1.63%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MKDEUR) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect MKD/EUR to open at 0.0163€, and during the day (based on 14 day Average True Range), to move between 0.0160€ and 0.0165€, which gives a possible trading interval of +/-0.0003€ (+/-1.72%) up or down from last closing price. If MKD/EUR takes out the full calculated possible swing range there will be an estimated 3.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.0162€ (0.01%) than the resistance at 0.0163€ (0.13%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MKD/EUR currency pair A Buy?
MKD/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: -3.104 Sell Candidate Unchanged
Predicted Opening Price for MKD/EUR of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| 0.0163€ ( 0.550%) | 0.0162€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MKDEUR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0166 | 2.34 % | |
| R2 | 0.0165 | 1.66 % | ||
| R1 | 0.0164 | 1.24 % | ||
| Current price: | 0.0162 | |||
| Support | S1 | 0.0162 | -0.135 % | |
| S2 | 0.0161 | -0.558 % | ||
| S3 | 0.0160 | -1.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0163 | 0.408 % | |
| R2 | 0.0163 | 0.143 % | ||
| R1 | 0.0163 | 0.127 % | ||
| Current price | 0.0162 | |||
| Support | S1 | 0.0162 | -0.0065% | |
| S2 | 0.0162 | -0.0357% | ||
| S3 | 0.0162 | -0.473% |
FAQ
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