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MXN/CZK Currency Pair Forecast

1.28 Kč
-0.0075 (-0.585%)
At Close: Jun 25, 2024
RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of MXNCZK
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MXN/CZK currency pair downgraded from Hold/Accumulate to Sell Candidate after Tuesday trading session.
(Updated on Jun 25, 2024)

Sell candidate since Jun 25, 2024 PDF

The MXN/CZK currency pair price fell by -0.585% on the last day (Tuesday, 25th Jun 2024) from 1.28 Kč to 1.28 Kč. During the last trading day the currency pair fluctuated 1.62% from a day low at 1.27 Kč to a day high of 1.29 Kč. The price has been going up and down for this period, and there has been a 3.19% gain for the last 2 weeks. Volume has increased on the last day by 109 thousand 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, 157 thousand shares were bought and sold for approximately 201.12 Kč thousand.

The currency pair lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the currency pair is expected to fall -12.02% during the next 3 months and, with a 90% probability hold a price between 1.06 Kč and 1.15 Kč at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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MXNCZK Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 4.21%. Further rise is indicated until a new top pivot has been found. 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 MXN/CZK currency pair holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the currency pair giving a more negative forecast for the stock. On further gains, the currency pair will meet resistance from the long-term Moving Average at 1.31 Kč. On a fall, the currency pair will find some support from the short-term average at 1.27 Kč. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. MXN/CZK 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".

Support, Risk & Stop-loss for MXN/CZK currency pair

MXN/CZK finds support from accumulated volume at 1.26 Kč and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This currency pair has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the currency pair moved 0.0206 Kč between high and low, or 1.62%. For the last week, the currency pair has had daily average volatility of 1.53%.

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

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

For the upcoming trading day on Wednesday, 26th we expect MXN/CZK to open at 1.28 Kč, and during the day (based on 14 day Average True Range), to move between 1.26 Kč and 1.29 Kč, which gives a possible trading interval of +/-0.0178 Kč (+/-1.39%) up or down from last closing price. If MXN/CZK takes out the full calculated possible swing range there will be an estimated 2.79% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at 1.28 Kč (0.59%) than the support at 1.26 Kč (1.68%), 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 MXN/CZK currency pair A Buy?

MXN/CZK holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this currency pair. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -1.806 Sell Candidate Downgraded

Predicted Opening Price for MXN/CZK of Wednesday, June 26, 2024

Fair opening price June 26, 2024 Current price
1.28 Kč ( 0.341%) 1.28 Kč

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

Trading levels for MXNCZK

Fibonacci Support & Resistance Levels

Level Price
R3 1.30 1.96%
R2 1.29 1.34%
R1 1.29 0.96%
Price 1.28
S1 1.27 -0.276%
S2 1.27 -0.657%
S3 1.26 -1.27%

Accumulated Volume Support & Resistance Levels

Level Price
R3 1.39 8.91%
R2 1.29 0.677%
R1 1.28 0.588%
Price 1.28
S1 1.26 -1.68%
S2 1.25 -2.16%
S3 1.25 -2.34%

FAQ

What is the symbol for MXN/CZK Currency pair and on which exchange is it traded?
The symbol for MXN/CZK is MXNCZK and it is traded on the CCY (Forex).

Should I buy or sell MXN/CZK Currency pair?
MXN/CZK holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this currency pair. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this currency pair since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy MXN/CZK Currency pair?
MXN/CZK Currency pair can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy MXN/CZK Currency pair.

What's the current price of MXN/CZK Currency pair?
As of the end of day on the Jun 25, 2024, the price of an MXN/CZK (MXNCZK) share was 1.28 Kč.

What is the 52-week high and low for MXN/CZK Currency pair?
The 52-week high for MXN/CZK Currency pair is 1.45 Kč and the 52-week low is 1.21 Kč.
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