MYR/DKK Currency Pair Forecast
Green day on Friday for MYR/DKK currency pair after gaining 0.0044%
(Updated on Jun 28, 2024)
The MYR/DKK currency pair price gained 0.0044% on the last trading day (Friday, 28th Jun 2024), rising from kr1.48 to kr1.48. During the last trading day the currency pair fluctuated 0.195% from a day low at kr1.47 to a day high of kr1.48. The price has risen in 6 of the last 10 days and is up by 0.1% over the past 2 weeks. Volume fell on the last day by -10 shares and in total, 34 shares were bought and sold for approximately kr50.23 . 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 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 MYR/DKK currency pair with a 90% probability to be traded between kr1.48 and kr1.50 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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MYRDKK Signals & Forecast
The MYR/DKK 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 kr1.48. On a fall, the currency pair will find some support from the long-term average at approximately kr1.47. 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 Wednesday, June 26, 2024, and so far it has fallen -0.440%. Further fall is indicated until a new bottom pivot has been found. 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. The currency pair had a Golden Star Signal on Thursday, June 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, April 11, 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 Thursday, June 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, April 11, 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 Thursday, June 06, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Thursday, April 11, 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.
Support, Risk & Stop-loss for MYR/DKK currency pair
MYR/DKK finds support from accumulated volume at kr1.47 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 kr0.0029 between high and low, or 0.195%. For the last week the currency pair has had daily average volatility of 0.342%
Our recommended stop-loss: kr1.43 (-3.43%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (MYRDKK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect MYR/DKK to open at kr1.48, and during the day (based on 14 day Average True Range), to move between kr1.47 and kr1.48, which gives a possible trading interval of +/-kr0.0063 (+/-0.42%) up or down from last closing price. If MYR/DKK takes out the full calculated possible swing range there will be an estimated 0.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr1.48 (0.08%) than the support at kr1.47 (0.71%), 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 MYR/DKK currency pair A Buy?
MYR/DKK 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: 0.490 Hold/Accumulate Unchanged
Predicted Opening Price for MYR/DKK of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
kr1.48 ( 0.0449%) | kr1.48 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for MYRDKK
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.48 | 0.150% |
R2 | 1.48 | 0.0756% |
R1 | 1.48 | 0.0296% |
Price | 1.48 | |
S1 | 1.48 | -0.119% |
S2 | 1.47 | -0.165% |
S3 | 1.47 | -0.240% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 1.48 | 0.442% |
R2 | 1.48 | 0.203% |
R1 | 1.48 | 0.0751% |
Price | 1.48 | |
S1 | 1.47 | -0.711% |
S2 | 1.46 | -0.85% |
S3 | 1.46 | -1.13% |
FAQ
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