NPR/EUR Currency Pair Forecast
NPR/EUR currency pair price up 0.521% on Friday
(Updated on May 17, 2024)
The NPR/EUR currency pair price gained 0.521% on the last trading day (Friday, 17th May 2024), rising from 0.0069€ to 0.0069€. During the last trading day the currency pair fluctuated 1.64% from a day low at 0.0069€ to a day high of 0.0070€. The price has fallen in 6 of the last 10 days and is down by -0.73% for this period. Volume fell on the last day by -1 shares and in total, 1 shares were bought and sold for approximately 0.0069€ . 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 NPR/EUR currency pair with a 90% probability to be traded between 0.0069€ and 0.0071€ 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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NPREUR Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, May 16, 2024, and so far it has risen 0.521%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NPR/EUR 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 0.0069€ and 0.0070€. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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.
A buy signal from a double bottom formation was found on Thursday, May 16, 2024 and based on theory for this formation the price should go up by 3.06% to 0.0071€ within 41 trading days since signal was issued (Monday, May 20, 2024).
Support, Risk & Stop-loss for NPR/EUR currency pair
NPR/EUR finds support from accumulated volume at 0.0069€ 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 0.0001€ between high and low, or 1.64%. For the last week the currency pair has had daily average volatility of 1.10%
Our recommended stop-loss: 0.0065€ (-5.60%) (This currency pair has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (NPREUR) For The Upcoming Trading Day Of Monday 20th
For the upcoming trading day on Monday, 20th we expect NPR/EUR to open at 0.0069€, and during the day (based on 14 day Average True Range), to move between 0.0068€ and 0.0070€, which gives a possible trading interval of +/-0.00008269€ (+/-1.19%) up or down from last closing price. If NPR/EUR takes out the full calculated possible swing range there will be an estimated 2.39% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at 0.0069€ (0.24%) than the resistance at 0.0069€ (0.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is NPR/EUR currency pair A Buy?
NPR/EUR holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.982 Hold/Accumulate Unchanged
Predicted Opening Price for NPR/EUR of Monday, May 20, 2024
| Fair opening price May 20, 2024 | Current price |
|---|---|
| 0.0069€ ( 0.249%) | 0.0069€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NPREUR
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0071 | 1.88 % | |
| R2 | 0.0070 | 1.26 % | ||
| R1 | 0.0070 | 0.87 % | ||
| Current price: | 0.0069 | |||
| Support | S1 | 0.0069 | -0.374 % | |
| S2 | 0.0069 | -0.760 % | ||
| S3 | 0.0068 | -1.38 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.0070 | 0.95 % | |
| R2 | 0.0070 | 0.84 % | ||
| R1 | 0.0069 | 0.285 % | ||
| Current price | 0.0069 | |||
| Support | S1 | 0.0069 | -0.237% | |
| S2 | 0.0069 | -0.271% | ||
| S3 | 0.0069 | -0.343% |
FAQ
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