NPR/GBP Currency Pair Forecast

NPR/GBP currency pair downgraded to Sell Candidate
(Updated on May 03, 2024)

NPRGBP Signals & Forecast

There are few to no technical positive signals at the moment. The NPR/GBP currency pair holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at £0.0059 and £0.0059. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 24, 2024, and so far it has fallen -2.23%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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. The currency pair had a Golden Star Signal on Wednesday, April 03, 2024 in the short-term chart.

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 NPR/GBP currency pair

NPR/GBP finds support from accumulated volume at £0.0059 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 £0.00002125 between high and low, or 0.360%. For the last week the currency pair has had daily average volatility of 0.216%

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

Trading Expectations (NPRGBP) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect NPR/GBP to open at £0.0059, and during the day (based on 14 day Average True Range), to move between £0.0059 and £0.0059, which gives a possible trading interval of +/-£0.00002470 (+/-0.42%) up or down from last closing price. If NPR/GBP takes out the full calculated possible swing range there will be an estimated 0.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at £0.0059 (0.01%) than the support at £0.0059 (0.39%), 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 NPR/GBP currency pair A Buy?

NPR/GBP holds several negative signals and is within a narrow and 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. 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 Buy to a Sell candidate.

Current score: -1.283 Sell Candidate Downgraded

Predicted Opening Price for NPR/GBP of Monday, May 6, 2024

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