PKR/BHD Currency Pair Forecast
Evaluation of PKR/BHD currency pair downgraded after the last trading session.
(Updated on Jun 14, 2024)
The PKR/BHD currency pair price gained 0.0362% on the last trading day (Friday, 14th Jun 2024), rising from $0.0014 to $0.0014. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the currency pair fluctuated 0.202% from a day low at $0.0014 to a day high of $0.0014. The price has risen in 6 of the last 10 days but is still down by -0.04% for this period. Volume fell on the last day by -1 shares and in total, 2 shares were bought and sold for approximately $0.0027 . 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 PKR/BHD currency pair with a 90% probability to be traded between $0.0014 and $0.0014 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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PKRBHD Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, June 11, 2024, and so far it has risen 0.123%. 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 PKR/BHD 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 $0.0014 and $0.0014. 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. The currency pair had a Golden Star Signal on Sunday, May 26, 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.
Golden Star
The currency pair had a Golden Star Signal on Sunday, May 26, 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.
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 and based on theory for this formation the price should go up by 0.300% to $0.0014 within 35 trading days since signal was issued (Monday, June 17, 2024).
Support, Risk & Stop-loss for PKR/BHD currency pair
PKR/BHD finds support from accumulated volume at $0.0014 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 $0.00000273 between high and low, or 0.202%. For the last week the currency pair has had daily average volatility of 0.186%
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (PKRBHD) For The Upcoming Trading Day Of Monday 17th
For the upcoming trading day on Monday, 17th we expect PKR/BHD to open at $0.0014, and during the day (based on 14 day Average True Range), to move between $0.0014 and $0.0014, which gives a possible trading interval of +/-$0.00000235 (+/-0.17%) up or down from last closing price. If PKR/BHD takes out the full calculated possible swing range there will be an estimated 0.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $0.0014 (0.07%) than the support at $0.0014 (0.08%), 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 PKR/BHD currency pair A Buy?
PKR/BHD 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 Hold/Accumulate to a Sell candidate.
Current score: -2.592 Sell Candidate Downgraded
Predicted Opening Price for PKR/BHD of Monday, June 17, 2024
| Fair opening price June 17, 2024 | Current price |
|---|---|
| $0.0014 ( 0.0037%) | $0.0014 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PKRBHD
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0014 | 0.198% |
| R2 | 0.0014 | 0.121% |
| R1 | 0.0014 | 0.0733% |
| Price | 0.0014 | |
| S1 | 0.0014 | -0.0807% |
| S2 | 0.0014 | -0.128% |
| S3 | 0.0014 | -0.205% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0.0014 | 0.139% |
| R2 | 0.0014 | 0.110% |
| R1 | 0.0014 | 0.0738% |
| Price | 0.0014 | |
| S1 | 0.0014 | -0.0805% |
| S2 | 0.0014 | -0.108% |
| S3 | 0.0014 | -0.307% |
FAQ
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