MXN/XAU Currency Pair Forecast
MXN/XAU currency pair price up 0.666% on Friday
(Updated on Jun 28, 2024)
The MXN/XAU currency pair price gained 0.666% on the last trading day (Friday, 28th Jun 2024), rising from $0.00002331 to $0.00002346. During the last trading day the currency pair fluctuated 1.68% from a day low at $0.00002318 to a day high of $0.00002357. The price has been going up and down for this period, and there has been a 1.07% gain for the last 2 weeks. Volume fell on the last day by -120 shares and in total, 1 thousand shares were bought and sold for approximately $0.0294 . You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
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 -9.33% during the next 3 months and, with a 90% probability hold a price between $0.00002045 and $0.00002241 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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MXNXAU Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 12, 2024, and so far it has risen 2.08%. 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/XAU 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 $0.00002358 and $0.00002429. A break-up above any of these levels will issue buy signals. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may not be. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for MXN/XAU currency pair
MXN/XAU finds support from accumulated volume at $0.00002331 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 controlled movements and therefore the general risk is considered 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 $0.00000039 between high and low, or 1.68%. For the last week the currency pair has had daily average volatility of 1.71%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (MXNXAU) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect MXN/XAU to open at $0.00002340, and during the day (based on 14 day Average True Range), to move between $0.00002302 and $0.00002390, which gives a possible trading interval of +/-$0.00000044 (+/-1.88%) up or down from last closing price. If MXN/XAU takes out the full calculated possible swing range there will be an estimated 3.77% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.00002331 (0.66%) than the resistance at $0.00002410 (2.73%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is MXN/XAU currency pair A Buy?
MXN/XAU holds several negative signals and is within a 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: -3.775 Sell Candidate Unchanged
Predicted Opening Price for MXN/XAU of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $0.00002340 ( 0.252%) | $0.00002346 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MXNXAU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00002379 | 1.41% |
| R2 | 0.00002365 | 0.777% |
| R1 | 0.00002355 | 0.384% |
| Price | 0.00002346 | |
| S1 | 0.00002325 | -0.89% |
| S2 | 0.00002316 | -1.28% |
| S3 | 0.00002301 | -1.92% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.00002559 | 9.05% |
| R2 | 0.00002513 | 7.09% |
| R1 | 0.00002410 | 2.73% |
| Price | 0.00002346 | |
| S1 | 0.00002331 | -0.662% |
| S2 | 0.00002331 | -0.673% |
| S3 | 0.00002299 | -2.03% |
FAQ
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