NZD/HKD Currency Pair Forecast

Stronger technical forecast for NZD/HKD currency pair price after Wednesday trading.
(Updated on Jun 26, 2024)

NZDHKD Signals & Forecast

There are few to no technical positive signals at the moment. The NZD/HKD 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 HK$4.78 and HK$4.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, June 03, 2024, and so far it has fallen -1.87%. 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 currency pair had a Golden Star Signal on Thursday, May 02, 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 NZD/HKD currency pair

NZD/HKD finds support from accumulated volume at HK$4.68 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 HK$0.0428 between high and low, or 0.90%. For the last week the currency pair has had daily average volatility of 0.522%

Our recommended stop-loss: HK$4.48 (-5.63%) (This currency pair has low daily movements and this gives low risk. There is a sell signal from a pivot top found 54 days ago.)

Trading Expectations (NZDHKD) For The Upcoming Trading Day Of Thursday 27th

For the upcoming trading day on Thursday, 27th we expect NZD/HKD to open at HK$4.76, and during the day (based on 14 day Average True Range), to move between HK$4.69 and HK$4.81, which gives a possible trading interval of +/-HK$0.0580 (+/-1.22%) up or down from last closing price. If NZD/HKD takes out the full calculated possible swing range there will be an estimated 2.44% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at HK$4.77 (0.30%) than the support at HK$4.68 (1.54%), 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 NZD/HKD currency pair A Buy?

NZD/HKD 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. We have upgraded our analysis conclusion for this currency pair since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.880 Hold/Accumulate Upgraded

Predicted Opening Price for NZD/HKD of Thursday, June 27, 2024

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