MWK/EUR Currency Pair Forecast

Red day on Thursday for MWK/EUR
(Updated on Jun 20, 2024)

MWKEUR Signals & Forecast

The MWK/EUR currency pair holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the currency pair giving a positive forecast for the stock. On further gains, the currency pair will meet resistance from the short-term Moving Average at approximately 0.0005€. On a fall, the currency pair will find some support from the long-term average at approximately 0.0005€. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Friday, June 14, 2024, and so far it has fallen -0.309%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this currency pair may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.

Support, Risk & Stop-loss for MWK/EUR currency pair

MWK/EUR finds support from accumulated volume at 0.0005€ 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 therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the currency pair During the last day, the currency pair moved 0.00000162€ between high and low, or 0.301%. For the last week the currency pair has had daily average volatility of 0.531%

Our recommended stop-loss: 0.0005€ (-3.79%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 9 days ago.)

Trading Expectations (MWKEUR) For The Upcoming Trading Day Of Friday 21st

For the upcoming trading day on Friday, 21st we expect MWK/EUR to open at 0.0005€, and during the day (based on 14 day Average True Range), to move between 0.0005€ and 0.0005€, which gives a possible trading interval of +/-0.00000284€ (+/-0.53%) up or down from last closing price. If MWK/EUR takes out the full calculated possible swing range there will be an estimated 1.06% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 0.0005€ (0.02%) than the support at 0.0005€ (0.33%), 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 MWK/EUR currency pair A Buy?

MWK/EUR holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.577 Hold/Accumulate Unchanged

Predicted Opening Price for MWK/EUR of Friday, June 21, 2024

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